The President of
India, Shri Ram Nath Kovind, inaugurated the 37th India
International Trade Fair (IITF) -2017 on November 14, 2017 in New Delhi.
Speaking on the occasion, the President said
that IITF is more than just a trade fair or exhibition. Commencing every year
on November 14, it is a showcase of India on the global stage. It is also a
symbol of India’s ancient and enduring commitment to international trade, says
an official release.
said that instinctively we have been an open society – free to trade winds and
cultural exchanges. We have valued a liberal, rules-based international trading
order. This is part of our DNA. And this is the legacy that modern India and
IITF are building on.
said that this year’s IITF takes place at a point when India is recognised as
one of the bright spots of the global economy. The world has acknowledged the
changed business environment in India and the strides made in ease of doing
business. The introduction of the Goods and Services Tax has been a milestone.
It has broken down barriers between states. It has provided a boost to the
creation of a common market and a more formal economy as well as a stronger
manufacturing sector. As a result of these efforts, there has been a sharp rise
in FDI in the past three years – from US$ 36 billion in 2013-14 to US$ 60
billion in 2016-17.
said that 3,000 exhibitors, including 222 companies from abroad, are
participating at IITF 2017. Thirty-two of India’s states and Union territories
are represented. Institutions that are present range from self-help groups to
big business houses, and from small and medium manufacturing enterprises to
digital start-ups. IITF is a mini-India. It is a snapshot of the diversity and
the sheer energy of this subcontinent.
said that the focus of India’s economic reforms and policies is to eliminate
poverty and enhance the prosperity of millions of ordinary families. Trade must
help common people. They are the ultimate stakeholders. The government of
India’s key initiatives – such as Make in India, Digital India, Start-up India,
Stand-up India, Skill India, Smart Cities, and the resolve to double farmers’
incomes – are all an attempt to make economic reforms more meaningful to those
at the grassroots.