India sees over 226 pc surge in startup funding at $596 mn this week
The Indian startup ecosystem bounced back this week in terms of raising funds, clocking more than 226 per cent surge with securing around $596 million in total.
India and Brunei Darussalam are looking at expanding bilateral relations with an increased focus on non-oil trade.
Brunei is a partner in India’s energy security but the two countries should work to diversify their economic engagement, Minister of State for External Affairs Rajkumar Ranjan Singh said.
“Brunei has been an important partner for India’s energy security. There is tremendous potential to diversify and add value to our existing trade (relations),” the minister said in a speech at the Brunei National Day reception in New Delhi on Monday.
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The minister called Brunei “a key pillar of India’s Act East Policy” and appreciated the sultanate’s role in strengthening India-ASEAN relations. The two countries are celebrating the 40th anniversary of their diplomatic ties this year.
Crude oil exports to India constituted the bulk of about US$400 million worth of bilateral trade in 2022, Brunei’s High Commissioner Dato Alaihuddin Taha said. “Trade and investment continue to be the cornerstone of our partnership,” Alaihuddin said.
He said Brunei is keen to expand cooperation in non-oil and gas sectors and explore potential new areas including sciences and emerging technologies, pointing out that the Indian Space Research (ISRO) maintains a telemetry, tracking and command station in Brunei.
The Brunei Economic Development Board (BEDB) recently organised a working visit to Mumbai and New Delhi to meet potential Indian investors in various sectors.
The 8th Foreign Office Consultations between India and Brunei were held in Bandar Seri Begawan in July last year.
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