Engineering & Capital Goods News

Jharkhand CM lays foundation stone of World Trade Centre in Ranchi, to be completed in 2 yrs

“State plans federation for increasing income of forest producers”

Ranchi, July 29: Jharkhand Chief Minister Hemant Soren laid the foundation stone of the World Trade Center at Dhurwa, Ranchi on Friday announcing of increasing Palash brand turnover to Rs 1000 crore and setting up federation for forest producers.

The chief minister said that the world trade centre would give  impetus to the export business and providing better facilities but stressed on strengthening the rural economy.

“Jharkhand forest products are sold by big companies at expensive rates while the original producers sell it at very low rate. We are planning to set up a federation which will ensure better marketing for forest producers so that they can earn good income. We also want the Palash brand, selling products of women self help groups, to have a turnover of over Rs 1000 crore in future,” said Soren.

The CM has also given strict orders to the contractors involved in constructing the building to complete it within the stipulated time of two years or else strict actions will be taken.

Meanwhile, the chairman of Jharkhand Industrial Infrastructure Development Corporation (JIIDCO) Vandana Dadel said that the world trade centre is being built under the trade infrastructure for export Scheme ties initiative and the total cost of making it is Rs 47 crore.

“The world trade centre will have every facility with regard to international trade under one roof. It will have the regional office of the Directorate General of Foreign Trade, foreign exchange and offices of the Indian Trade Union,” she added.

The World Trade Centre will promote exports of agricultural food products, textiles, tasar products and engineering goods.

The MoU was signed between industry department and SIDBI. Through this, assistance will be provided through SIDBI to develop industrial infrastructure and set up industries in the state. On this occasion, 515 beneficiaries were given capital of about Rs one crore 87 lakh for seed capital assistance under PMFMI scheme.

The World Trade Center will have all the facilities related to international business in one complex.

This center will have the regional office of the Directorate General of Trade and the offices attached to the Export Council of India. Apart from this, space will be provided for companies engaged in import-export. From currency exchange to money transfer facilities will be available.

The construction of the World Trade Center will be done in collaboration with the Central and State Governments. It will be built in 3.45 acres of land.

The export of agricultural and food products, textiles, tasar products and engineering goods will be encouraged in the World Trade Center.

The construction of the World Trade Center will be completed in 2 years. It will have multipurpose conference rooms, seminar halls, import-export facilities, money exchange facilities etc.

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