The groundbreaking partnership between the World Trade Center NDITA and key WTCs in Mumbai, Bengaluru, Chennai, Kochi, and Noida mark a pivotal moment in trade and investment for West Bengal. Signed during the Urban Infrastructure session at the Bengal Global Business Summit 2023, this memorandum of understanding (MoU) seeks to elevate global trade prospects and investment opportunities across West Bengal, Maharashtra, Karnataka, Tamil Nadu, and Delhi.
The exchange ceremony, led by notable figures including Shri Sushil Mohta of WTC NDITA, Vineet Verma of WTC Bengaluru, and Vijay Kalantri of WTC Mumbai, signifies an alliance aimed at strengthening international trade connections. The association with these trade centres not only bolsters the economic landscape of West Bengal but also fosters connectivity among trade bodies and international investors.
Speaking at the signing, Sushil Mohta emphasized the significant step for Merlin Group, highlighting the development of a sprawling World Trade Center in Nabadiganta-Salt Lake. Encompassing 4 million square feet, this center will house offices, retail spaces, a hotel, and WTC facilities, fostering global connectivity for West Bengal on the international trade map. The partnership aims to support trade and industry activities for members across states, reinforcing the World Trade Center's role in promoting economic growth.
Vijay Kalantri, Chairman of WTC Mumbai, emphasized the MOU's focus on enhancing trade and business opportunities between Mumbai and Kolkata, furthering investments, technology transfer, and collaborations beneficial to both regions. The collaboration aims to boost employment, technology infusion, and SME support.
The partnership's objective extends to joint initiatives for trade and investment promotion between northwest India and West Bengal. The focus lies on boosting business opportunities, especially for MSMEs in the state, reinforcing the commitment to economic growth and employment.
This collaboration builds on the March 2023 agreement between the World Trade Center Association (WTCA) and Merlin Group, laying the foundation for Eastern India's first World Trade Center. The proposed centre in Nabadiganta Industrial Township Authority (NDITA), Salt Lake, is set to be an iconic state-of-the-art facility with a significant investment of INR 1500 Cr. This project is anticipated to create 30,000 jobs and contribute significantly to the state's exchequer.
The World Trade Center Association, a non-profit global trade organization, has played a pivotal role in promoting trade and investment opportunities worldwide. With more than 300 members across nearly 100 countries, the association serves as a hub of economic activity, fostering credible environments for trade and investment.
Saket Mohta, Managing Director of Merlin Group, envisions the proposed World Trade Center as a sprawling 3.5 million sq. ft facility offering an array of services. This iconic venture aims to elevate West Bengal's trade and lifestyle offerings, attracting the youth and enhancing the state's economic growth.
The World Trade Center NDITA project holds promise not just for trade and industry but also for Bengal's youth, offering vibrant opportunities and a superior quality of life. This monumental endeavor, driven by the Merlin Group's commitment, aligns with the state government's vision for overall economic growth and trade industry development in West Bengal.