Statement by the Permanent Representative of India
Ambassador Ajit Kumar at the 50th Joint Advisory Group ( JAG) meeting of International Trade Centre
[ 10 AM 4 July 2016 at WTO ]
Thank you Chairperson - Ambassador NegashKebretBotora, Permanent Representative of Ethiopia
Mr. Roberto Azevedo, Director General WTO
Mr. Jaokim Reiter, Deputy Secretary General, UNCTAD
Ms. Arancha Gonzalez, Executive Director ITC
Excellences and Distinguished guests,
At the outset, I would like to thank ITC for organizing this 50th and If I may also add - the Golden Jubilee Session of the Joint Advisory Group Meeting. I would also like to thank the distinguished speakers for their comprehensive statements.
India sincerely appreciates the exemplary role played by ITC in promoting trade as a means of economic development of the developing countries particularly the Least Developed Countries (LDCs) and Land Locked Developing Countries (LLDCs) and economies in transition.
ITC’s Trade Related Technical Assistance (TRTA) programme plays an important role in promoting the interests of developing countries, particularly in Africa, through strengthening and integration of the business sectors of developing countries and economies-in-transition into the global economy; improving international competitiveness of SMEs, among others.
ITCs role for regional economic integration, efforts to increase south-south trade and investment, match-making between developing countries, search for sustained market for the products of the developing countries are not only praiseworthy but also worth emulating.
Mr. Chairperson
India is both a donor and a partner of ITC. The India - ITC partnership is exemplified by Supporting Indian Trade and Investment for Africa (SITA) a project implemented by ITC to improve competitiveness of select value chains in five Eastern African countries namely Ethiopia, Kenya, Rwanda, Tanzania and Uganda, all priority partner countries for India – through promoting Trade and Investment partnerships between Institutions’ and Businesses from India.
SITA which started implementation in 2015, now in its second year of implementation has demonstrated progress at the policy, institutional and business levels and I am pleased to share some concrete examples.
In partnership with the Export Import Bank of India (EXIM) a feasibility study has been completed in Rwanda. Based on this study, the Government of Rwanda announced an Export Guarantee Facility to enhance credit worthiness of its exporters. This is a good example of financial inclusion and support to foreign exchange earning sectors of Rwanda’s Economy, and an area where India has made a lot of progress.
The Spices Board of India and a national NGO trained over seventeen farmers and agricultural research and extension experts from Ethiopia and Rwanda. This training took place in the southern Indian states of Kerala and Tamil Nadu in January 2016.
It is also noteworthy that an Indian importer has also completed a transaction for USD 2 million of turmeric from an Ethiopian exporter after being connected at a SITA event in December 2015 in Addis Ababa.
The Indian Pulses and Grains Association (IPGA) hosted for the first time a delegation of exporters from Kenya, Tanzania and Ethiopia at their annual conclave during February 2016 in the Indian city of Jaipur.
I am pleased to learn that companies that have made connections with Indian importers through SITA have already exported USD 2.2 million of pulses; are currently executing USD 1.75 million worth of orders; and have signed or are finalizing MOUs for over USD 10 million covering Kenya, Tanzania & Ethiopia.
I have been informed that the Solvent Extractors Association of India (SEA of India) has recently sent techno-commercial feasibility assessment missions to Uganda and Tanzania during June 2016.
In the Information Technology Enabled Services sector SITA has provided around thirty companies from Kenya, Uganda and Rwanda opportunities to meet with potential Indian partners and this networking will continue. It is heartening to note that the focus is on women owned companies.
SITA showcases how South-South Trade and Investment TRTA projects can succeed; and how triangular cooperation can positively contribute to poverty reduction through the development of production capacities.I would like to acknowledge the role of the delegation of the United Kingdom that fund SITA and to the partner Governments, Institutions and Businesses in Ethiopia, Kenya, Rwanda, Tanzania and Uganda in enabling SITA’s success.
Let me take this opportunity to highlight some of the recent policy decisions of my Government, which has made a positive impact on the socio-economic milieu of India.
India’s stable economic growth, coherent and forward looking investment and trade policy, simplification of procedure for trade and investments has created confidence among the major business players and Investors across the world.
The Flagship Make in India initiative has encouraged companies to manufacture their products in India. This campaign has received tremendous response and large scale investments in the field of heavy engineering, automobile industry & chemicals and many other sectors.
The recent World Investment Report 2016 published by UNCTAD indicates India became the fourth largest recipient of FDI in developing Asia and the tenth largest in the world, with inflows reaching $44 billion.
On 20 June 2016 under the visionary leadership of Honourable Prime Minister of India Mr. NarendraModi, India has announced sweeping reforms to the rules on foreign direct investment, opening up its defense and civil aviation sectors to complete outside ownership. These changes have made India as one of “The most open economy in the world for FDI” and will provide a “major impetus to employment and job creation.”
India is keen to further deepen its trade and economic relations. In our overall strategy, developing countries, neighborhood, Africa and Latin America are priority partners for us.
We are interested to explore the possibility of leveraging ITC’s expertise and experience towards strengthening India’s engagement with other developing countries.
We are happy to note that India has contributed to ITC by offering a modest offering of 50 thousand US dollars to ITC Trust Fund ( ITF ) under Window 1 which allows ITC the flexibility to utilize it.
We look forward to working closely and having deeper level of engagement with the International Trade Centre.
With these words I Thank you, Mr. Chair.
