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India’s largest trade fair opens with exhibitors from 28 nations

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New Delhi: The 35th edition of India’s largest trade fair kicked off on Saturday at the sprawling Pragati Maidan grounds here with President Pranab Mukherjee calling it an opportunity for India to strengthen its bilateral trade relations with the world.

“The India International Trade Fair (IITF) is a brand name enjoying recognition from around the world.

This annual celebration of trade is to develop our (India’s) bilateral relations with the rest of the world,” Mukherjee said in his inaugural address here.

The two-week exposition concludes on November 27, with the first five days reserved exclusively for business visitors.

The Commerce and Industry Ministry Nirmala Sitharaman said the event is of a “global stature” and would see participation by at least 28 countries.

This edition of IITF will follow the theme of Prime Minister Narendra Modi’s initiative “Make in India”,

This year, while Afghanistan is the partner country, Bangladesh has been roped in as the focus country.

Within India, Goa and Jharkhand are partner states, while Madhya Pradesh is the focus state.

According to the organisers, over 7,000 firms from India and overseas are participating in the fair.

The overseas participation is from countries including Egypt, Bhutan, China, Cuba, Germany, Hong Kong, Indonesia, Iran, Iraq, Myanmar, Nepal, Pakistan, Russia, Saudi Arabia, South Africa, South Korea, Sri Lanka, Thailand, Tibet, Turkey and the UAE.

The last year’s event saw a footfall of over 1.4 million, registering a nine percent increase in the number of visitors in 2013.

This apart, 63 business delegations from 41 countries, apart from a large number of people from foreign missions in Delhi, also visited the fair.

(IANS)

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India Gets Assistance of Rs 3,420 Crore From Japan

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems,

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Japan will be giving a loan of Rs 3,420 crore to India to assist in constructing the Chennai Peripheral Ring Road and for joint efforts towards meeting the UN Sustainable Development Goals (SDGs).

“The loan agreements were signed here today (Friday) between the Government of India and Japan International Cooperation Agency (JICA), New Delhi under Japanese Official Development Assistance Loan Program,” the Ministry of Finance said in a statement.

The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore.

FDI
The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore. www.trafficchallan.co.in

The agreements were signed by Finance Ministry Additional Secretary C.S. Mohapatra and JICA New Delhi Chief Representative Katsuo Matsumoto, the Ministry said.

Also Read: Now India is One of The Most Open Countries for FDI: Narendra Modi

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems, thereby contributing to mitigation of traffic congestion and promoting Regional Economic Development.

The other program aims to promote SDGs in India, mainly in social development, by supporting the efforts by the Indian government to strengthen the policy framework and implementation mechanism, thereby supporting India in achieving SDGs by 2030, it added.(IANS)