Speech by Hon'ble President of India, Shrimati Pratibha Devisingh Patil, at the India International Trade Fair 2009 at New Delhi

Ladies and Gentlemen,

I am happy to be inaugurating the India International Trade Fair 2009, the annual flagship event of India Trade Promotion Organization (ITPO). This Trade Fair has come to occupy an important position in the calendar of trade events. More than 7000 exhibitors, including a large number of foreign participants and more than 2.5 million visitors are likely to visit the Fair this year, making it the largest Trade Fair in this part of the world, both in terms of participation of exhibitors as well as in terms of number of visitors.

Products, services and technologies exhibited here are a reliable indicators of India's progress and capabilities in the agricultural, industrial, technological and services sectors. Hence, the India International Trade Fair has, over the years, acquired a reputation of successfully projecting the rapidly modernizing face of India to the global business community. Moreover, the people of our country get an opportunity to see developments in different parts of the country and the world across a wide spectrum of economic and technological activities.

It is appropriate that the Trade Fair is opening on the 120th birth anniversary of Pandit Jawaharlal Nehru, the first Prime Minister of free India. It was in his vision of a modern nation that he foresaw the tremendous potential of science and technology for bringing about transformation in the landscape of the country. He was convinced that it would be technological prowess of a nation that can take it to the forefront in the global arena. Today, India's position as a leader in the knowledge-based economy, including in fields like space exploration, is a result of the encouragement and drive of Pandit Nehru.

In this context, I am happy to learn that ITPO has organized a special exhibition in the Nehru Pavilion showcasing India's stride in the areas of space technology. The exhibition "India - A Space Odyssey", I am told, profiles India's long journey in the field of space and related technologies. We have sent an unmanned spacecraft, Chandrayaan I, to the Moon and we hope to send a manned spacecraft to the Moon in the near future. I am hopeful that this exhibition will encourage and enthuse people, particularly the youth of the nation, to pursue studies and research in science and technology. The future belongs to inventions, innovations and enterprise. We must be prepared to move in that direction and to make India, a store house of knowledge and expertise.

Two decades ago, India began a process of economic reforms. It resulted in higher growth rates, technological upgradation, increased foreign investment and larger trade volumes. It integrated the Indian economy with that of the rest of the world. This brought in its train many opportunities and some challenges. India emerged as a favoured destination for foreign companies, corporations and businesses. Our commitment to continue to engage with the world remains and we will look at ways in which we can enhance our trade and economic ties with other countries.

India continued to evoke interest even in the environment of economic and financial crisis of last year which had disrupted growth and employment rates across the world. It impacted us also but in a far less severe manner. The Indian economy has demonstrated its resilience by maintaining a growth rate of more than 6.5 percent even in the face of that crisis. Signs of recovery are evident as our economy changes gear and we hope to return back to the higher growth rates of above 7 percent by next year.

Our strong domestic market and upwardly mobile middle class population, alongwith healthy growth rates, all point towards our growing economic clout in the world. We have the ability to supply high quality products and services provided at reasonable cost. They are indicators of the economic advantages that can be leveraged by the world for engaging with India. As we expand our infrastructure, there would be opportunities of over US $ 550 billion in the next five years for investment in India.

The India International Trade Fair has a unique character in combining business to business activities as well as business to consumer transactions of a large volume. I hope that this Trade Fair will be an opportunity for enterprises to finalise commercial transactions as well as look at joint ventures, joint collaborations, and public private partnerships.

I am happy to learn that 29 countries are participating this year and among them, this year, Thailand is our "Partner Country" and China is the "Focus Country". This Fair also is a little India where all States and Union Territories showcase their products and progress in colourful and attractive state Pavilions. I am happy to note that this year Delhi is the Partner State and Uttrakhand is the Focus State. I wish them good luck and success.

I am told that Pragati Maidan, which has several cultural arenas, it is adding one more open air performance zone named Pragati Aangan near the Nehru Pavilion. I am sure that Delhi's citizens as well as visitors from outside will enjoy the cultural extravaganza planned by ITPO for the current Trade Fair along with sampling regional cuisines of India in the Food Plaza.

In conclusion, I congratulate Shri Anand Sharma, Minister of Commerce and Industry, his Ministry as well as ITPO for enriching and expanding the scope of the Trade Fair in various aspects in its 29th edition. I am sure that the business as well as general visitors will find this Trade Fair interesting, useful and rewarding.

I wish all the participants in the Fair success and the very best.

Thank You,  
Jai Hind.