The Hindu Business Line : India is in second phase of liberalisation: Kamal Nath

THE MINISTER for External Affairs, Mr Pranab Mukherjee, being greeted by the Madhya Pradesh Industries Minister, Mr Babulal Gaur, at the inauguration of India International Trade Fair 2006 in the Capital on Tuesday. Looking on is the Minister for Commerce and Industry, Mr Kamal Nath. - Ramesh Sharma

New Delhi , Nov. 14

The two-week long India International Trade Fair (IITF) got off to an eventful start with the Union Minister for External Affairs, Mr Pranab Mukherjee, describing the exhibition as "a mini India" with all its manufacturing and industrial diversity and products on display.

Inaugurating the 26th annual event organised by the India Trade Promotion Organisation (ITPO) here, Mr Mukherjee said: "In one and a half decades and more precisely in the last five or six years, the component of the export basket has undergone a radical change. All these things have happened because of the latent talent the Indian entrepreneurs, managers and businessmen had. And by providing the appropriate policy framework it has been possible to make this transformation."

Growth Opportunities

Mr Mukherjee singled out for praise the product range by small and medium enterprises (SMEs) and invited investors, both domestic and foreign, to take advantage of the growth opportunities being provided by India.

In his welcome address, the Union Commerce and Industry Minister, Mr Kamal Nath, said that India was in the midst of "a second phase of calibrated and comprehensive economic liberalisation programme" and sought the participation of investors, domestic and foreign, in the building of the economy.

Mr Nath said that the fair focuses on a huge canvas that encompasses both the traditional and non-traditional sectors of industry, spread across rural and urban areas. Even as "we retain our traditional appeal in certain sectors, it would also be equally important to achieve higher levels of value-addition in other sectors in consonance with the changing requirement of the global market." He said that the recent developments with Indian entrepreneurs stealing a march over their global competitors were a good augury as this reinforced the credentials of corporate India in the global arena.

Friendly Policies

Around 7,500 firms from India and overseas are participating in the fair in which as many as 34 foreign countries have put up their pavilions. While China is a partner country and Thailand the focus country, in the national sector, Andhra Pradesh is the partner State while Madhya Pradesh features as the focus State in IITF 2006.

Speaking at the inaugural the Minister for Tourism, Sugar, Major Industries, Commerce and Export Promotion of Andhra Pradesh, Ms Geeta Reddy, highlighted the various investor-friendly policies her Government had put in place. She said that Andhra Pradesh has a pavilion in this fair, where a large number of SMEs are taking part with their diversified technologies and products. The Commerce Secretary, Mr G.K. Pillai, and the Chairman and Managing Director of ITPO, Mr N.N. Khanna, also spoke on the occasion.

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