ILACC and VPVV Techno Construction ink USD 10 bn agreement to propel India's vision of Viksit Bharat by 2047

New Delhi [India], October 19 : In a step toward accelerating India's journey to becoming a "Viksit Bharat" (Developed India) by 2047, the Indo Latin American Chamber of Commerce (ILACC) and VPVV Techno Construction Pvt. Ltd. signed a USD 10 billion agreement at the Constitution Club of India.
According to ILACC, the collaboration focuses on large-scale investments across multiple sectors, including infrastructure, defence, industrial development, and technological advancements.
The agreement encompasses key initiatives such as the Industrial Corridor Development Program, Semiconductor Mission, National Logistics Policy, Production Linked Incentive (PLI) Scheme, and "Make in India" and "Made from India" projects.
The ceremony was graced by Minister of State Tokhan Sahu from the Ministry of Housing and Urban Affairs, along with high-profile global dignitaries, including Lalatiana Accouche, High Commissioner of Seychelles to India; Morille Nsilu, High Commissioner of the Democratic Republic of Congo; Zakaria Traore, First Counselor of the Guinea Embassy; Sekou Conde, Economic Counselor of the Guinea Embassy; and H.E. Juan Angulo, Ambassador of Chile.
The agreement is poised to deepen economic ties between India and Latin America, while also serving as a strategic bridge for economic cooperation with global economies.
The participation of ambassadors and US dignitaries at the event reaffirmed the international support for India's ambitious development goals and its growing influence on the world stage.
Raj Kumar Sharma, President of ILACC, emphasized the strategic importance of the collaboration, stating, "Today's agreement is not just a financial commitment; it's a strategic alignment reinforcing our dedication to India's development goals."
He added, "We are incredibly proud to partner with VPVV Techno Construction Pvt. Ltd. to make substantial contributions to India's defence and infrastructure sectors. Our joint efforts will significantly accelerate the country's progress towards becoming a Viksit Bharat by 2047."
Both ILACC and VPVV Techno Construction share a common vision to play a pivotal role in India's transformation into a global economic powerhouse.
The collaboration is expected to generate thousands of jobs, stimulate technological innovation, and attract foreign investment, key factors in helping India become the world's third-largest economy.
Venkita Venkat, Chairman of VPVV Techno Construction Pvt. Ltd., expressed enthusiasm for the partnership, saying, "This partnership represents a major leap forward for both organizations. VPVV Techno Construction Pvt. Ltd. is deeply invested in India's future, and through this agreement, we aim to support the nation's infrastructural and defence capabilities to ensure sustainable growth. We are confident that our combined efforts will contribute significantly to making India a global leader."
Yeleti Padmaraj Gopal, Chief Strategist of VPVV Techno Construction Pvt. Ltd., played a key role in orchestrating the partnership, working diligently to bring the two organizations together.
The collaboration will help drive India's growth plans across various sectors. With a focus on bolstering infrastructure and defence, the partnership is expected to contribute significantly to India's economic expansion, particularly in the lead-up to the country's centenary of independence in 2047.
The initiatives will not only strengthen India's domestic capabilities but also enhance its standing in global markets, creating a solid foundation for sustainable growth and self-reliance.
The agreement aligns with broader policy initiatives aimed at enhancing India's integration with global supply chains and improving business conditions in the country.
It also sets the stage for future collaborations with international partners, thus attracting more investments and bolstering India's external economic position.