WORLD TRADE CENTRE MUMBAI 30 Countries and 7 States of India Boost the World Trade Expo

“Tourism Sector has huge employment potential for women”says Mr Jaykumar Rawal, Minister of Tourism, Employment Guarantee Scheme, Government of Maharashtra at World Trade Expo 2018 organised by World Trade Centre Mumbai and All India Association of Industries. Addressing the gathering of audience comprising of Consulates, Senior Government Officials from prominent states of India, Mr Rawal said that the Tourism sector has been a significant business contributor in the economic spectrum and has been experiencing continuous expansion and diversification. It is the fastest growing sector in the world. He further said that “we are more connected to the world today than ever before. The impact of digital revolution has snow-balled exponentially into wider corners of world. This year, the digital revolution and innovation has taken centre stage for continued growth in conjunction with greater sustainability in tourism.

Expressing his sincere gratitude to the organizers, Consulates, Exhibitors from 30 countries across the globe and 08 prominent State Government Officials participating in the Expo, Mr. Rawal said, “I am happy that the World Trade Expo 2018 also highlights the prospects of Women Entrepreneurship. The UN WTO global report 2010 highlighted the aspect of Women In Tourism. The tourism sector is a vital component for economic development through foreign earnings and generates employment opportunities. This sector has huge potential to generate significant employment opportunities for women. There is a streamlined focus on mega and MSME tourism units. We are also leveraging all state and central skill development schemes.  In Maharashtra, we are facilitating the Ministry of India’s Hunar Se Rojgar Tak programme in association with hospitality institutes like IHM-Mumbai.

In his welcome address, Mr. Vijay Kalantri, President, All India Association of Industries and Vice Chairman, MVIRDC World Trade Centre Mumbai said that “India has one of the highest cost of cargo transport in the world. The final cost of this is borne by the consumer which reduces the overall growth of the economy. Therefore, Mr. Kalantri suggested government officials to relax inspection and audit norms for long standing businessmen and traders. Instead of tightening rules and regulations in response to stray instances of misconduct by some businessmen, the government must relax procedures for the majority of businessmen, who are honest.”

Mr. Kalantri suggested Government of Maharashtra to come out with notification for all the new policy announcements on the same day for the industry to benefit. He also proposed the state government to revive Maharashtra State Financial Corporation (MSFC).

“For the first time in India’s history, government identified 12 champion sectors and line ministries to promote exports.” says Mr Suresh Prabhu, Hon’ble Minister of Commerce & Industry and Civil Aviation, Government of India in a video message at the World Trade Expo 2018. Mr Prabhu further stated that “India is poised to increase its share in global trade. In 2017-18, India’s exports have recovered and started growing at 9% after declining for several years. Further he stated,” I am happy to share that the recovery of India’s exports has started during my tenure as Minister of Commerce. In the current year, India’s exports are growing at 15-16%, despite small blip in last September.”

India’s Ministry of Commerce is working on a strategy of preparing a comprehensive road map to promote India’s export. As a part of this initiative, Government of India has called upon the line ministries to discuss export promotion strategy apart from giving targets and ideas to each of these ministries to enhance exports, he said.

Speaking on this occasion, Amb. Manoj K. Bharti, Additional Secretary (ED and States), Ministry of External Affairs, Government of India said, “The rise of India is the one of the most significant economic stories of our time. India has the global advantage on three major aspects: Democracy, Demography and Demand. The long-term growth prospect of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India’s cost-competitive and highly efficient and advanced manufacturing sector has attracted international companies to set up research and development labs as well as production and service infrastructure for the global market. These measures will help India realize its goal to attain a US$7 trillion economy by 2030 from the current US$2.4 trillion.”

“India’s share in world trade is hardly 2.15%, which is far less than its contribution of 3.21% to world GDP. India has signed multiple trade agreements with some countries. These complex agreements make it difficult for Indian exporters to understand the duty benefits, concessions and eligibility conditions to avail these benefits.” said Dr. Rajan Sudesh Ratna, Economic Affairs Officer, Trade, Investment and Innovation Division, UNESCAP

In the open house session, eminent authorities - Mr. Sambhaji Chavan, Senior Deputy Directorate General of Foreign Trade, Mumbai; Mr. Ramesh Chander, Commissioner – Customs, Mumbai; Mr. Rajat Srivastava, Director & Regional Head, EEPC INDIA, Western Region addressed various issues pertaining to exports and exporters.

“Foreign trade binds different nationalities to make them realize their interdependencies, to understand each other’s culture and heritage, to create opportunities for inclusive growth”, said Ms. Rupa Naik, Senior Director, MVIRDC World Trade Centre Mumbai in her vote of thanks.