How WTCs Promote Global Trade and Investment?

In his recent visit to India, Dr.Vivek Arunachalam, Professor of International Business at Berlin-based Fresenius University, took an opportunity to meet Mr. Jayant Ghate, Advisor, WTC Navi Mumbai during second week of  August 2024 at the WTC Office. Dr Vivek has his own YouTube Channel the Diplomatic Notes where he has interviewed international diplomats, global businessmen as well as leading organizations chiefs in the world.

Dr. Vivek while interviewing Mr. Ghate posed him a number of questions on the topics such as International Trade & Investment, Role of WTCA & WTCs, FDI in India, India’s Competitiveness and so on.

Some key points of the interview are highlighted below:

Initially Mr. Jayant Ghate explained importance and objectives of the WTCA Ecosystem and how it has emerged over the years. This was followed by how India’s trade and investment are growing and how WTCs are helping to achieve this growth potential.

·         Global Network: WTC Navi Mumbai is a part of the global network of WTCA New York having over 330 WTCs in around 100 countries. This network plays a significant role in facilitating international trade and investment. WTC Navi Mumbai provides a wide range of services to the industry, business, government as well as academia in the Navi Mumbai Region which is one of the fastest growing regions in India.

·         India's Growing Attractiveness for Investment: India has become a prime destination for foreign direct investment (FDI), with a substantial increase in FDI inflows. The country has also improved its rankings in global competitiveness, global innovations and ease of doing business. India's large and youthful population, coupled with its growing market, makes it an attractive place for international business.

·         Support for Investors: The WTCs in India, along with government agencies like Invest India, provide crucial support to foreign investors. This includes information on policies, procedures, opportunities, and connections to the right people and organizations.

·         Sectoral Opportunities: India offers vast opportunities across various sectors, including engineering, energy, pharmaceuticals, agro-food processing, textiles, IT services, education, tourism, and healthcare. The WTCs help in identifying these opportunities and facilitate trade and investment activities.

·         Electric Vehicles and Semiconductor Manufacturing: India is working to attract investments in electric vehicles (EVs) and semiconductor manufacturing. Although the country is currently behind in these technologies, the growing auto industry and infrastructure development present significant potential for growth in these sectors.

For a detailed and comprehensive view on the topic checkout the video: https://youtu.be/A9DIOJD7Dq0?si=DblyTAb8-Xcvifcv