These 8 sectors contribute 50% to India’s merchandise exports

“WTC Mumbai’s latest digital initiative, Connect India International Trade Show, will facilitate Indian MSMEs to access USD 3.7 trillion market across eight focus sectors in 10 participating countries. Buyers and sellers from these 10 countries, some of which are Germany, China, USA, Vietnam, Philippines, Canada, South Africa and Qatar, are participating in this online Trade Show, which will go live from August 1, 2022 till November 1, 2022. These 10 countries together account for 27% of world population, or more than one quarter of the world consumer market. I thank World Trade Centers Association and all the member WTCs for collaborating with WTC Mumbai in this initiative,” said Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and Board Director, WTCA New York at the inaugural webinar to launch Connect India International Trade Show 2022.

The eight focus sectors of this Trade Show are: engineering, pharmaceuticals & healthcare, renewable energy, agro processing, auto-components, textile & home decor, telecom, technology & ICT. These eight sectors are export-oriented segments of the Indian economy as they together contributed 50% of our total world merchandise exports in 2020.

Dr. Kalantri further informed that Connect India is an initiative to facilitate collaborations between Indian industry and their counterparts abroad by leveraging the global network of 320 WTCs representing more than 1 million companies across the world.

Connect India aims to facilitate market access for at least 500 Indian companies to their counterparts in these participating 10 countries. Apart from trade, this innovative digital platform also promotes exchange of technology, joint ventures, investment and other forms of collaboration with the participating countries.

In his remarks, Mr. Scott Wang, Vice President – Asia Pacific, World Trade Centers Association (WTCA), New York informed, “Connect India 2022 is a collaborative initiative between WTC Mumbai and WTCA’s Market Access Program. I thank WTC Mumbai for being a host of our Market Access Program by launching Connect India 2022. WTCA Market Access Program will have match-making events, one-to-one meetings, seminars, dedicated pavilions and booths for exhibitors to promote products and services of participating companies.”

Speaking about the benefit of this program for participating companies, Ms. Rupa Naik, Executive Director, World Trade Center Mumbai informed, “The objective of this Trade Show is to enable our MSMEs to “Connect Virtually and Trade Globally”. This digital platform enables exhibitors to display their products and services online to enhance global visibility at minimal cost. WTC Mumbai is partnering with WTCA, which is the strongest global network of trade and industry. Indian MSMEs can reduce cost and expand their global business by working with WTCs across the globe. Apart from MSMEs, this Trade Show is also open for industry chambers, SEZs, Free Trade Zones and other segments of trade and industry. The key features of this Trade Show are: B2B meetings with foreign companies, country presentations, digital trade missions, interactive sessions with Indian state governments and other business facilitation activities.”

The event was also addressed by Ms. Linh Huynh, Executive Director, World Trade Center Binh Duong New City and Ms. Xiaolan Zhu, Chief Executive Officer, World Trade Center Haikou.

The program was attended by members of trade & industry, consular corps, financial institutions and academia.

Senior functionaries of WTC Mumbai,World Trade Centers Association, New York, World Trade Center Binh Duong New City and World Trade Center Haikou at the webinar to launch Connect India International Trade Show 2022.