Union Minister for Commerce & Industry Piyush Goyal, on Thursday, inaugurated the 43rd edition of the India International Trade Fair (IITF) at Bharat Mandapam in New Delhi.

In his inaugural address, the minister disclosed that the Central government was planning to expand the India Trade Promotion Organisation and transform it into a world-class agency reflecting the entire industry and the value chain at a single point so that the world looks upon India as the best MICE destination.

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Bangalore, Mumbai, Chennai, Lucknow, Varanasi, and Noida are the places the Centre is looking to expand these facilities, he said.

Iterating Prime Minister Narendra Modi’s resolution to dedicate every decision of the government to the goal of Viksit Bharat, the minister expressed his delight over the theme of IITF being based on the idea of Viksit Bharat 2047.

Emphasising increased usage of digital transactions at all trade fairs, Piyush Goyal said the Centre was looking to put up kiosks around fairs to enable faster transactions.

The Central government is also looking at revenue-sharing models with those industries seeking a market at the India International Trade Fair and such events, he added.

On the occasion, Goyal highlighted the need to go from local to global and facilitate convergence of buyers and sellers bringing in international exhibitors to India for consumer choice. Exhibitions in India should be a one-stop shop for the world, he said, urging ITPO to consider virtual fairs particularly where the look and feel of the products is not necessary.

The minister hoped that India would conduct fairs across the world inviting foreign buyers, having a greater outreach, and becoming outlets for goods and services in the developed countries.

He also hoped to have innovation as an important element in future fairs, dedicated pavilions showcasing startups, advancements in digital public infrastructure, AI, green technologies, and cyber technology.

Organised under the theme of ‘Viksit Bharat @2047’, by the India Trade Promotion Organization (ITPO), this flagship event, scheduled from November 14 to 27, 2024, celebrates India’s vibrant culture, trade, and innovation, offering a platform for businesses and individuals to explore opportunities and foster collaboration.