Indian MSMEs may have access to USD 3.7 trillion market at Connect India digital initiative

Indian MSMEs may have access to USD 3.7 trillion market across eight focus sectors in 10 participating countries including Germany, China, USA, Vietnam, Phillippines, Canada, South Africa and Qatar in the online Trade Show scheduled from August to November.

Micro, small and medium enterprises (MSMEs) will have access to USD 3.7 trillion market at the Connect India International Trade Show that will go live online from August 1 till November 1, 2022.

Vijay Kalantri, Chairman, MVIRDC World Trade Center (WTC) Mumbai, which is organising the show, said, “Indian MSMEs to access USD 3.7 trillion market across eight focus sectors in 10 participating countries including Germany, China, USA, Vietnam, Phillippines, Canada, South Africa and Qatar in this online Trade Show.”

These ten countries together account for 27 percent of the world population, or more than one quarter of the world consumer market, Kalantri said, who is also the board director of World Trade Centers Association New York.

The initiative will focus on eight key sectors like engineering, pharmaceuticals & healthcare, renewable energy, agro processing, auto-components, textile & home decor, telecom, technology & ICT. These sectors cumulatively contribute 50 percent of India’s total merchandise exports in 2020.

It added in the statement, “Connect India is an initiative to facilitate at least 500 Indian companies leverage the global network of 320 WTCs representing more than 1 million companies across the world. The digital platform will also promote exchange of technology, joint ventures, investment and other forms of collaboration with the participating countries.”

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.”

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.”