World Trade Expo 2017 Showcases Indian MSME Excellence to Global Market

by Shrutee K/DNS

“World Trade Expo 2017 is a unique platform to integrate India’s khadi and village industries, micro, small and medium enterprises (MSMEs) in the global value chain. There are around 60 million MSMEs in India and they contribute 90% to the industrial sector of the country. It is time for these MSMEs to look beyond borders and showcase their skills and excellence to the global market. India’s MSMEs and rural industries are known for ‘frugal innovation’. This event has provided MSMEs a platform to scale up their operation to global level,” said Dr. Arun Kumar Panda, Secretary, Ministry of MSME, Government of India. World Trade Expo 2017 is jointly organized by All India Association of Industries (AIAI) and World Trade Centre Mumbai.

The event received overwhelming response from more than 37 countries, five state governments and 30 industry clusters in India. Top officials from Khadi and Village Industries Commission (KVIC), Union Ministry of MSMEs, Directorate General of Foreign Trade (DGFT), Government of India addressed the inaugural session of World Trade Expo 2017.

Dr. Panda complimented AIAI and World Trade Centre Mumbai for organising this event and he expressed confidence that it will benefit all the stakeholders in the industry. Shri B. H. Anil Kumar, Joint Secretary, Ministry of MSME, Government of India also graced the occasion.

India’s Minister for Commerce and Industry, Shri Suresh Prabhu, in a video message, said, “This expo is being held at a time when Indian economy is growing faster than before. Size of the Indian economy shall grow from USD 2.5 trillion to USD 5 trillion and it will become the 3^rd largest economy in the next few years. With growth in the economy, our international trade will also grow. I am sure this expo will help foreign countries understand India and its economy better in promoting trade. In his remarks, Dean, Consular Corps in Mumbai, Dr. Norbert Révai-Bere, Consul General of Hungary in Mumbai said, “Incredible India is a land of opportunity. This expo offers best opportunity for Hungary to build network and establish sustainable partnership with Indian business. In this expo, we will showcase our potential areas of partnership such as water management, technology transfer, education, trade and so on. In the last three years, bilateral trade between India and Hungary has grown considerably.”

Dr. Sonia Sethi, IAS, Additional Director General of Foreign Trade, Directorate General of Foreign Trade, Mumbai said, “I am confident World Trade Expo 2017 will set pace for export-led growth in India. This event is a timely intervention by World Trade Centre Mumbai and AIAI to promote exports from MSMEs and village industries. India’s Foreign Trade Policy aims to increase share of Indian exports in world exports to 3.5% from the current 2%. India’s Commerce Ministry has highlighted the need to shift our focus to emerging sectors and promote the bottom 10 items in the list of exported commodities.” 

Dr. Sethi also pointed out that World Trade Centre Mumbai is playing a major role in promoting India’s brand image in the world. She said DGFT is happy to associate with World Trade Centre Mumbai in all the outreach activities to promote India’s international trade.

Shri. Vinai Kumar Saxena, Chairman, KVIC said, “I am glad to note that 37 countries are participating in this expo. KVIC is a conscience keeper of nation. I am confident that the B2B meetings in this event will facilitate greater co-operation and exchange of trade between India and participating countries.”

Introducing Khadi and Village Industry of India, Shri. Saxena pointed out that this industry has an annual sales turnover of USD 80 billion and provides employment to more than 10 million people. Shri. Saxena suggested World Trade Centre Mumbai to organize similar events in future as well to support Khadi and Village Industry.

Earlier in his welcome remarks, Mr. Vijay Kalantri, President, All India Association of Industries (AIAI) and Vice Chairman, World Trade Centre Mumbai said, “Representatives from more than 37 countries are participating in World Trade Expo 2017. These countries account for 17% of India’s total trade. There is great potential to increase this share to 25% in the course of time. This expo aims to improve India’s international trade by supporting MSMEs, industry clusters, khadi and village industries and start-up companies. The event also promotes India’s ambitious policies such as Start-up India, Digital India, Make in India and so on. In future, we will consider making this expo a bi-annual event and invite more than 50 countries to participate in it.”

Speaking on policy measures to support MSMEs, Mr. Kalantri suggested Ministry of MSMEs to hold periodic interactions with the regional MSME associations to understand their grievances and resolve them. He also suggested Government of India to revive Standing Committees for promote export and support MSMEs. Mr. Kalantri also recommended the adoption of the concept ‘One Village, One Product’ to encourage grassroot entrepreneurs in villages.

The event is attended by Ambassadors, Consul Generals, representatives of MSMEs, industry clusters, women-owned enterprises, start-up companies and others. The participating countries and bilateral chambers include Argentina, Bangladesh, Bolivia, Russia, Botswana, Brazil, Congo, Gabon, Ecuador, Ethiopia, Georgia, Fiji, Indonesia, Hungary, Jordan, Indo-French Chamber of Commerce and Industry, Malaysia, Uzbekistan, Norway, Peru, Saudi Arabia, Thailand, Sri Lanka, Taiwan, Rwanda, The Indo-Italian Chamber of Commerce & Industry, Basque Region of Spain, Lesotho and South Korea. 

Capt. Somesh Batra, Vice Chairman, World Trade Centre Mumbai proposed vote of thanks. World Trade Expo 2017 will feature B2B meetings, country presentations by diplomats, workshops and cultural events on November 16 and 17, 2017.