7th GES 2018 in Mumbai is organized by World Trade Centre Mumbai and All India Association of Industries from February 22-24, 2018 at the World Trade Centre Mumbai.
The 3-day Summit will feature intellectually stimulating Conference, Exhibition, Business-to-Business Meetings, Awards, Release of Handbook and Field Visits.
Global Economic Summit presents an excellent platform for policymakers and business leaders to accelerate their exports and integrate in global value chains across sectors which include agriculture, manufacturing and services.
Mr. Suresh Prabhu, Hon’ble Minister of Commerce and Industry, Government of India will inaugurate and address the Summit. The Summit is also supported by the Ministry of Commerce and Industry and Ministry of Micro, Small & Medium Enterprises, Government of India.
Experts, business leaders, policy makers will discuss and examine the various opportunities and challenges for exporters to enhance their participation in global markets through supply chains. The entire gamut of value chains which include key drivers such as technology and design, finance, infrastructure and logistics, retail chains, skilled labour, and conducive policies will be analysed during the two-day Conference, followed by a field visit to ‘Mahindra & Mahindra’, a leading stakeholder in Global Value Chain.
More than 500 business delegates from 25 countries, including India will participate in the networking session and exhibition, B2B meetings of the Summit to explore potential partners in the value chain for products and services. Delegates will represent a wide spectrum of sectors such as agriculture and food processing, mining, engineering, Auto and Auto Components, Energy and Environment, Hospitality, Chemicals and Pharmaceuticals, Construction and Infrastructure, Education and Vocational Training, Electrical and Electronics, Gems, Jewellery, Information and Communication Technology, Life Science and Biotechnology, Mechanical and Metallurgical, Textile and Leather, Supply Chain and Logistics, among others.
Explaining the significance of the Summit, Mr. Kamal Morarka, Chairman, MVIRDC World Trade Centre Mumbai said, “Global Value Chains are an effective tool to enhance the footprint of MSME enterprises in the global markets. India can increase its share in exports from the present level of 1.65% to 3%’ in the next five years if MSMEs are successfully integrated in these value chains. GVCs can also promote some of the sustainable development goals such as responsible consumption and production, decent work and economic growth, industry innovation and infrastructure, gender equality and so on. ”
Mr. Vijay Kalantri, President, All India Association of Industries (AIAI) said, “There are more than 60 million MSMEs in India. Integrating MSMEs in the Global Value Chains is a challenge however, GES 2018 is a platform to get first hand information for exporters from business leaders who are majorly involved in Value Chains. The discussions and case studies will guide the MSMEs to change their perception on exports and gear up to meet the challenges in value chains”.
For the first time ever, internationally acclaimed scholars on GVCs will gather in the financial capital of India to discuss challenges and policy remedies for integrating MSMEs in the GVC. The Conference will be addressed by Dr. Robert Koopman, Chief Economist and Director of the Economic Research and Statistics Division, World Trade Organization; Mr. Sebastian Saez, Lead Economist - Trade & Competitiveness, World Bank Group; Mr. Nadim Ahmad, Head of Trade and Competitiveness Statistics Division, Organisation for Economic Co-operation and Development (OECD); Mr. Andrew Crosby, Managing Director, International Centre for Trade and Sustainable Development; Prof. Yang Jun, School of International Trade and Economics, University of International Business and Economics, Beijing; Mr. John Foord FICS, President, The Federation of National Associations of Ship Brokers and Agents (FONASBA); Mr. Christian Ewert –Director General, Foreign Trade Association (FTA); Dr. M. Annadurai, Distinguished Scientist, Indian Space Research Organization (ISRO), Mr. Abhijit Das, Head & Professor, Centre for WTO Studies, International Institute for Foreign Trade (IIFT); Dr. Rupa Chanda, Reserve Bank of India Chair Professor in Economics, Indian Institute of Management (IIM) Bangalore, along with case studies by business leaders from over 25 countries.
“Global Economic Summit is the most important programme for the times that we are living in. The world has changed and now it is all Global Value Chains, which make the world function. Nobody makes a product in one particular geography alone. Adding value to the supply chain is what is going to be the new mantra of business,” said Shri Suresh Prabhu, Hon’ble Minister of Commerce and Industry, Government of India in his video message at the 7th Global Economic Summit on ‘Global Value Chains: Accelerating MSME Growth, Development and Sustainability’ at World Trade Centre Mumbai on February 22, 2018. The Summit is jointly organised by World Trade Centre Mumbai and All India Association of Industries (AIAI).
Mr. Prabhu further said, “The choice of the world is whether I should make something in my country.. or I should get it from outside… whether I should make everything in my country… or do something in my country where I am good at… and get others to add to my already created product by doing a value addition. This is what is going to be the global value chain of the world… it has got tremendous opportunities to create jobs. We should be part of the global economy
Mr. Prabhu emphasized that the global economy is bound to grow because it is a combined human will of 7.5 billion people of the world; that they want to live a better life and they want to do better things, they want to innovate, they want to bring new ideas. All of this will contribute to the GDP of the world… and in that increasing world, we have realized.. why should we do everything ourselves. This was original traditional thinking of the shopfloor manager, thinking whether I should make a product or buy a product.
Mr. Prabhu said, “Today whether I should make the product in my own factory or I should buy it from outside and sell it under my brand name. This choice has now become the choice of the world, whether I should make something in my country… or I should get it from outside.. whether I should make everything in my country…. Or do something in my country where I am good at…. and get others to add to my already created products by doing a value addition. This is what is going to be the Global Value Chain of the World… It has got tremendous opportunities to create jobs. If you can integrate into the value chains….”
“In order to integrate into the value chains, we have to think differently. We have to align our own thinking with the other chains… a chain means that we cannot be thinking in isolation and we have to be a part of the global thinking. We should be part of the global economy. We should be part of the global thought process. And to do that, what is necessary is the change of mindset and economy.” Shri Prabhu added.
Shri Prabhu complimented Mr. Kamal Morarka, Chairman, World Trade Centre Mumbai, Mr. Vijay Kalantri, President All India Association of Industries and Ms. Rupa Naik, Senior Director, World Trade Centre Mumbai. He said the various research findings of World Trade Centre Mumbai and AIAI are praiseworthy.
The inaugural Session of the Summit was attended by around 350 delegates from more than 30 countries, Ambassadors, Consul Generals and other top officials of government, representatives from multilateral agencies, MSMEs, corporate houses, trade promotion organizations and academic institutions.
In his theme address, Shri. Laxmi Narayan Gupta, I.A.S, Additional Chief Secretary, MSME Department, Government of Odisha informed that Odisha has posted a record 114% growth in exports in 2016-17, the highest growth rate among any state in India. Government of India has recognized Odisha as the ‘Champion State’ for achieving the highest rate of growth in exports. Odisha aims to attract Rs. 2.5 lakh crore of new investment and generate three million jobs by the year 2025. Government of Odisha offers capital subsidy for MSMEs under its MSME Policy 2016 and Food Processing Policy 2016. Odisha government has enrolled 175 start-up enterprises in the last 10 months under its Start-up Odisha Initiative.
Shri. Gupta also pointed out that Odisha is the first state in India to launch a synchronized central inspection framework for all industrial establishments called Government of Odisha – Synchronised Mechanism for Inspection of Licensed Enterprises (GO-SMILE). Government of Odisha has launched a single window platform to provide end-to-end online solution for 32 services from 15 government departments.”
Speaking on this occasion, H.E. Prof. Adam Burakowski, Ambassador of Poland in New Delhi expressed optimism about the evolving partnership between Poland and India. H.E. Burakowski said, “India is considered one of the most promising markets and has become the first investment destination for Polish companies in India. I believe that Polish and Indian economies have all resources and qualities to go far beyond existing horizon and to establish a robust trade relationship and a sustainable value chain. Poland offers a wide array of investment incentives and there are 14 Special Economic Zones in the country.”
In her Special Remarks, Dr. Sonia Sethi, I.A.S, Additional Director General of Foreign Trade, Directorate General of Foreign Trade, Mumbai Zonal Office highlighted some of the policy measures taken by the Ministry of Commerce and Industry to promote Global Value Chains in India. Dr. Sethi informed, “Our Hon’ble Prime Minister Shri. Narendra Modi has set a target of USD 5 trillion for the size of the Indian economy by 2025. Maharashtra aims to become a USD 1 trillion economy by 2025. Global Value Chains play an important role in achieving this ambitious growth target.”
Dr. Sethi further pointed out, “70% of the world merchandise trade consist of trade in high potential sectors such as electronics, telecom, heavy engineering, among others. Micro, Small and Medium Enterprises have a major role to play in trade in these high potential sectors.”
Government of India is working out a strategy to upgrade ports and other logistics infrastructure in the country. Government of India has also taken various measures such as introduction of GST, improving ease of doing business, implementing electronics manufacturing policy, among others to promote Global Value Chains in the country.
Dr. Sethi suggested World Trade Centre Mumbai to come out with a white paper at the end of the Summit suggesting actionable areas for government to bring out conducive polices for integrating Indian MSMEs in the Global Value Chains.
In his remarks, Mr. Rajeev Kher, Distinguished Fellow, Research and Information System for Developing Countries (RIS) and former Commerce Secretary, Government of India said, “Government of India does not have a value chain-based policy framework. If we want to encourage domestic value addition, we need to reduce import duty and build institutional mechanism to address technical barriers to trade and negotiate comprehensive free trade agreements. In order to intensify India’s forward linkages in the Global Value Chain, Indian companies must focus on technologies, skills, size and scale.”
Mr. Christian Ewert, Director General, amfori (Foreign Trade Association) said, “We need to promote open trade and fight protectionism which is a major threat to Global Value Chains. In 2016, the WTO counted a total of 1300 protectionist measures in G20 countries versus 900 in 2013.”
Speaking on the significance of sustainability in Global Value Chains, Mr. Ewert said, “Global Value Chains are the key enablers of Sustainability. The Indian Government initiative ‘Make in India’ has made sustainability a priority.
India is fairly well integrated into GVCs given that 41% of its exports are intermediate goods used in production abroad, Mr. Ewert added.
Dr. S. Venkateswara Sharma, Deputy Director, System Production Area, ISRO Satellite Centre highlighted the key achievements and targets set by the Indian Space Research Organisation to make India a global hub for satellite manufacturing. Dr. Sharma said, “ISRO looks at industry as our partners and the organisation caters to around 455 sectors through its various space and satellite manufacturing programmes. From producing one satellite every four year, ISRO has evolved to produce eight satellites every year. In the near future, we will attain the target of 12-18 satellites every year and in the next five years, ISRO aims to make 75-100 satellites in the country.”
Delivering the welcome address for the inaugural session, Mr. Kamal Morarka, Chairman, World Trade Centre Mumbai said, “Today, almost all the think tanks in the Western Countries believe that India is a safe place to do business. Stability and predictability are the key features of the Indian economy since it started the process of integrating with the world economy in 1991. India takes pride in it system of transparent administration, robust democracy, freedom of press, functioning legal system.”
Mr. Vijay Kalantri, President, All India Association of Industries (AIAI), Vice Chairman, World Trade Centre Mumbai and Director, WTCA Board, N.Y. proposed vote of thanks for the inaugural session. Mr. Kalantri pointed out that India has received a record level of foreign direct investment of USD 60 billion in 2017 and Maharashtra has a share of 50%. Currently, Indian economy is growing at 6.0-7.0% today and if this growth has to increase to 8.0-10.0%, MSMEs have a large role to play in this. Therefore, Government of India must support MSMEs in areas of finance, marketing, logistics, infrastructure and so on.”
During the inaugural session, distinguished guests released the ‘Global Economic Summit 2018 Handbook’, which is a collection of articles, interviews, case studies and success stories Global Value Chains across the world.
The session also featured felicitation of reputed companies such as Gujarat Co-operative Milk Marketing Federation Ltd, Datamatics Global Services Ltd and Crystal Automation Pvt Ltd. for their extraordinary contribution to value chain in their respective sectors.
The three-day Global Economic Summit (February 22-24, 2018) will feature participation of key dignitaries such as Shri. Arjun Ram Meghwal, Hon’ble Minister of State, Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India, Gen. (Dr.) V.K. Singh (Retd.), Hon’ble Minister of State, Ministry of External Affairs, Government of India, Shri. Prafulla Samal, Hon’ble Minister for Social Security & Empowerment of Persons with Disabilities, Women & Child Development & (Mission Shakti), Micro, Small & Medium Enterprises, Government of Odisha. Key highlights of the Summit are panel sessions, case presentations, exhibition, B2B meetings, felicitation of outstanding business organizations, knowledge workshops and field visit.
“The 7th Global Economic Summit is timely as it provides a good platform to assess the state of play with respect to Indian Micro, Small & Medium Enterprises (MSMEs) in the global value chain. In India, MSME sector has recorded an annual growth of more than 10% over the past few years. It is crucial to rationalize and simplify taxes for MSMEs as they account for almost 99% of companies filing tax returns in India,” said Gen. (Dr.) V.K. Singh (Retd.), Hon’ble Minister of State, Ministry of External Affairs, Government of India at the 7th Global Economic Summit on ‘Global Value Chains: Accelerating MSME Growth, Development and Sustainability’ at a Summit jointly organised by World Trade Centre Mumbai and All India Association of Industries (AIAI).
Gen. (Dr.) V.K. Singh further said, “Government of India is focusing on two key areas – enabling MSMEs to make more high value products and ensuring they have timely and adequate access to credit and funds. Government of India has signed Memorandum of Understandings with 18 countries for co-operation in MSME sector, which shall help exports from this sector.”
Gen. (Dr.) V.K. Singh further pointed out, “This is the age of specializations. Business organizations from different countries must collaborate to create synergy in their supply chain and thereby create value. Even though North Eastern states of India produce as much quantity of Pineapple as Philippines, he quantity of Pineapple processed and exported is hardly 15% of that in Philippines. MSMEs in India must adopt latest technology for value added processing. Besides this, other commodities such as banana can have potential for value addition.”
The 3-day Global Economic Summit (February 22-24, 2018) received overwhelming response from more than 100 business and government delegates from 30 countries and 280 delegates from India..
In his Special Address, Shri. Jayakumar Rawal, Hon’ble Minister, Employment Guarantee Scheme and Tourism Development, Government of Maharashtra said, “The High Profile Magnetic Maharashtra witnessed signing of Memorandum of Understandings worth Rs 12 lakh crore. The world is a global village and this Summit of WTC Mumbai and AIAI is timely after Magnetic Maharashtra. I am very happy to see the response to the Summit. MSMEs and MSME clusters need support of Maharashtra government, which is doing a lot to improve infrastructure. The world thinks India is a place to manufacture. India is leading in artificial intelligence as well. CEOs of top global information technology companies are from India. The new government in India has stopped red tapism and started offering red carpet. In the next three years, we can see hyperloop coming to Maharashtra. One of the biggest industries in the world is tourism supporting a lot of people. Like we have Incredible India, we have ‘Unlimited Maharashtra’. Dolphins to tigers, we have them all in Maharashtra. We have five world heritage sights. We have strong airport and highway connectivity to support tourism in Maharashtra.”
In his address, Shri. Prafulla Samal, Hon’ble Minister for Social Security & Empowerment of Persons with Disabilities, Women & Child Development & (Mission Shakti), Micro, Small & Medium Enterprises, Government of Odisha said, “Odisha government has been working hard in the last two decades to convert its potential into tangible gains keeping in mind the sustainability as well as equity dimensions. In 2008, Odisha government introduced a dedicated policy for MSME sector mandating large industries to develop an MSME park over a certain percentage of land allocated to it. MSMEs in India have emerged as a competent sector and key contributor to the growth of the economy with 40% share in exports and 45% share in manufacturing. The State of Odisha has a strong MSME sector and a conducive environment for innovation and entrepreneurship. Our Hon’ble Chief Minister of Odisha has envisaged the state to be the preferred choice of investment for foreign and domestic investors. I invite all the delegates to participate at the 6th Annual MSME International Trade Fair scheduled from March 5-10, 2018 at ITPO Bhubaneshwar.”
Delivering the welcome address for the session, Mr. Kamal Morarka, Chairman, World Trade Centre Mumbai said, “In the next 10-15 years, Indian economy will witness tremendous growth. India is an excellent place to do business as the country has the advantage of demographic dividend, freedom of press, independent judiciary and policy continuity. Since the year 1991, India has had seven Prime Ministers. However, there is stability and predictability in government policy. I hope the 7th Global Economic Summit will generate useful business leads for the participating delegates and generate more investment in the country.”
Mr. Vijay Kalantri, President, All India Association of Industries (AIAI), Vice Chairman, World Trade Centre Mumbai and Director, WTCA Board, N.Y. proposed vote of thanks for the session.
During the Session, distinguished guests released the MVIRDC WTC Mumbai Research Study ‘Accelerating Maharashtra’s Export Competitiveness’, which provides a comparative analysis of Maharashtra’s export performance vis-à-vis other states and offers actionable policy recommendations to enhance export from Maharashtra. The Session also witnessed the release of ‘India MSME Report 2017’.
The Session also featured felicitation of reputed companies such as Mumbai International Airport Ltd –GVK, PSA Advisors and start-up enterprise Neogrowth, Global Express Multilogistics, iLoanz, Thinkph, Imaginarium for their extraordinary contribution to value chain through logistics, finance, innovation and other services.
The 3-day Summit includes intellectually stimulating panel sessions, case presentations, exhibition, B2B meetings, felicitation of outstanding business organizations, knowledge workshops and field visit.
On February 22, 2018, the inaugural Session of the Summit was attended by Ambassadors, Consul Generals and other top officials of government, representatives from multilateral agencies, MSMEs, corporate houses, trade promotion organizations and academic institutions.