Uttar Pradesh, which aims to become a trillion-dollar economy by 2027, will promote itself as a “global sourcing hub” for major e-commerce firms and multinational companies at the five-day international trade fair next month.
Vietnam will be the partner country for the second edition of the ‘UP International Trade Fair 2024’ from September 25 to 29 in Greater Noida.
“Buyers and importers from 72 countries across all continents including Europe, Africa, North America, Latin America and Oceania are expected to participate in the five-day event,” a senior UP government official said.
The government will showcase the state’s capability in a variety of domains including IT/ITeS, MSMEs, startups, education, agriculture, health, tourism and culture, energy and the One District One Product (ODOP) plan.
The state is rolling out the red carpet for entrepreneurs, investors, manufacturers, traders and exporters to participate in the flagship trade fair and forge lucrative business partnerships.
At the same time, the number of exhibitors is expected to increase by 25 percent, from 2,000 in 2023 to almost 2,500 this year.
UP is famous for a large number of traditional industries such as Varanasi for Banarasi silk sarees, Bhadohi (carpet), Lucknow (chikan), Kanpur (leather goods), Agra (leather footwear), Aligarh (locks), Moradabad (brass goods), Meerut (sports goods) and Saharanpur (wood products).
In this context, the fair will offer participants an ideal commercial platform for closing deals between companies (B2B) and between companies and consumers (B2C).
Meanwhile, UP Chief Minister Yogi Adityanath has directed officials to use the event to invoke the state’s soft power in music, culture, heritage, food, tourism and fashion, among others.
These multifaceted events aim to highlight the artistic richness and cultural diversity of the UP, providing a comprehensive experience that combines historical traditions with contemporary expressions.
“The fair should organise a session on insurance in collaboration with the Insurance Regulatory and Development Authority (IRDA), in addition to another session dedicated to innovation and start-ups,” he added.
At the UP Global Investors Summit (GIS) 2023, the Yogi government secured investment proposals totalling Rs 40 trillion across sectors. So far, investment projects totalling Rs 10 trillion have already been launched, while several more are in the pipeline.
Meanwhile, UP aims to achieve SME exports worth Rs 3 trillion in 2-3 years. The SME sector contributes 60 per cent of UP’s annual industrial output.
The MSME sector, which is the main driver for making the “Make in UP” vision a reality, is the main generator of employment after agriculture and related activities.
First published: August 18, 2024 | 11:00 PM IS
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