Mumbai, October 13 More than 30 countries will participate in the fifth edition of the ‘World Trade Expo’ to be held from October 17 to 18 in the country’s financial capital Mumbai. In this, they will explore the export potential of $ 117 billion from India.
India has strong export potential in sectors like textiles, pharma, chemicals, automobiles and components and machinery.
The US offers the maximum untapped export opportunity of $ 46 billion in sectors like gems and jewellery, pharmaceuticals, automobiles and components and machinery.
According to the World Trade Center Mumbai and the All India Association of Industries (AIAI), the organizers of this event, the participating country has the highest export potential in diamonds, agro-chemicals, iron and steel, jewellery and motor vehicles.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri is expected to be the chief guest at the event in a dedicated session on ‘Green and Renewable Energy’.
Ambassadors and trade missions of participating countries and regions will showcase trade, investment, tourism, education and technology exchange potential in their countries.
The event will feature developed and developing countries from the Americas, Europe, Africa and Asia. These countries collectively account for 28 per cent of India’s total merchandise trade, 35 per cent of merchandise exports and 24 per cent of imports.
India recorded a trade deficit of over $10 billion with these countries in FY24. They are major suppliers of ores and minerals, semiconductors, other electronic spare parts, agro-commodities such as coal and edible oil, underlining their importance in India’s energy, mineral and food security.
India has signed free trade agreements with several countries such as Malaysia, Sri Lanka, South Korea and Mauritius. Other participating countries like Indonesia, Vietnam and Thailand are part of the 10-member ASEAN nations with which India has a trade agreement.
