India focus country in IZMIR international trade show
Why in News?
- India was the focus country of 87th Izmir International Trade Show held in Izmir, third most populous city in Turkey, after Istanbul and Ankara from from 7th to 11th September, 2018. Trade Promotion Council of India (TPCI) had led 75-member Indian delegation for this trade show.
- The delegation had several B2B meetings and business tie-ups with members of the Turkish business community.
Source India Pavilion:
- India is the Focus Country in the trade show with a standalone pavilion named ‘Source India’.
- The India Pavilion is a multi-product pavilion, including companies displaying products like ceramics, cereals and mechanical appliances.
- These events serve the purpose of opening new areas for co-operation in trade and investment between India and the rest of the world.
India- Turkey Trade:
- Bilateral trade between the two countries was $7 billion in 2017, an increase of 8% over the previous year.
- There is a huge potential for tie-ups between Indian and Turkish agriculture and food processing sectors.
- The collaborations may range from farming technology, high yielding varieties, farm machinery, food processing and cold storage.
Trade Promotion Council of India (TPCI):
- TPCI is an apex trade and investment promotion organization notified in the Foreign Trade Policy. TPCI is also recognized and supported by the Department of Commerce, Govt. of India.
- It provides policy suggestions which are essentially based on inputs collated from research and industry stakeholders.
- Aim: To accelerate India’s global trade through advanced research and trade promotion.
- Working: Creating global platform for the industry by organizing seminars, trade shows and business delegations through measures such as-
- Advanced Trade Research: – Supporting India’s trade policy and economic diplomacy through research.
- Trade Promotion: – Exploring international trade opportunities in untapped markets and promoting new exporters.
- Trade Facilitation: – Identifying bottlenecks and bridging the gap between industry and authority by continuous interaction.
- Investment Promotion: – Exploring scope and facilitating investment in potential business and sectors.
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