Global Economic Summit (GES) for Integrating MSMEs in Global Value Chains

Global Economic Summit (GES) for Integrating MSMEs in Global Value Chains
7th GES 2018 in Mumbai was organized by World Trade Centre Mumbai and All India Association of Industries from February 22-24, 2018 at the World Trade Centre Mumbai. The 3-day Summit features intellectually stimulating Conference, Exhibition, Business-to-Business Meetings, Awards, Release of Handbook and Field Visits.

Global Economic Summit presents an excellent platform for policymakers and business leaders to accelerate their exports and integrate in global value chains across sectors which include agriculture, manufacturing and services.

Mr. Suresh Prabhu, Hon’ble Minister of Commerce and Industry, Government of India inaugurated and addressed the Summit. The Summit is also supported by the Ministry of Commerce and Industry and Ministry of Micro, Small & Medium Enterprises, Government of India.

Experts, business leaders, policy makers discussed and examine the various opportunities and challenges for exporters to enhance their participation in global markets through supply chains. The entire gamut of value chains which include key drivers such as technology and design, finance, infrastructure and logistics, retail chains, skilled labour, and conducive policies will be analysed during the two-day Conference, followed by a field visit to ‘Mahindra & Mahindra’, a leading stakeholder in Global Value Chain.

More than 500 business delegates from 25 countries, including India participated in the networking session and exhibition, B2B meetings of the Summit to explore potential partners in the value chain for products and services. Delegates represent a wide spectrum of sectors such as agriculture and food processing, mining, engineering, Auto and Auto Components, Energy and Environment, Hospitality, Chemicals and Pharmaceuticals, Construction and Infrastructure, Education and Vocational Training, Electrical and Electronics, Gems, Jewellery, Information and Communication Technology, Life Science and Biotechnology, Mechanical and Metallurgical, Textile and Leather, Supply Chain and Logistics, among others.

Explaining the significance of the Summit, Mr. Kamal Morarka, Chairman, MVIRDC World Trade Centre Mumbai said, “Global Value Chains are an effective tool to enhance the footprint of MSME enterprises in the global markets. India can increase its share in exports from the present level of 1.65% to 3%’ in the next five years if MSMEs are successfully integrated in these value chains. GVCs can also promote some of the sustainable development goals such as responsible consumption and production, decent work and economic growth, industry innovation and infrastructure, gender equality and so on. ”

Mr. Vijay Kalantri, President, All India Association of Industries (AIAI) said, “There are more than 60 million MSMEs in India. Integrating MSMEs in the Global Value Chains is a challenge however, GES 2018 is a platform to get first hand information for exporters from business leaders who are majorly involved in Value Chains. The discussions and case studies guided the MSMEs to change their perception on exports and gear up to meet the challenges in value chains”.

For the first time ever, internationally acclaimed scholars on GVCs gathered in the financial capital of India to discuss challenges and policy remedies for integrating MSMEs in the GVC. The Conference was addressed by Dr. Robert Koopman, Chief Economist and Director of the Economic Research and Statistics Division, World Trade Organization; Mr. Sebastian Saez, Lead Economist – Trade & Competitiveness, World Bank Group; Mr. Nadim Ahmad, Head of Trade and Competitiveness Statistics Division, Organisation for Economic Co-operation and Development (OECD); Mr. Andrew Crosby, Managing Director, International Centre for Trade and Sustainable Development; Prof. Yang Jun, School of International Trade and Economics, University of International Business and Economics, Beijing; Mr. John Foord FICS, President, The Federation of National Associations of Ship Brokers and Agents (FONASBA); Mr. Christian Ewert –Director General, Foreign Trade Association (FTA); Dr. M. Annadurai, Distinguished Scientist, Indian Space Research Organization (ISRO), Mr. Abhijit Das, Head & Professor, Centre for WTO Studies, International Institute for Foreign Trade (IIFT); Dr. Rupa Chanda, Reserve Bank of India Chair Professor in Economics, Indian Institute of Management (IIM) Bangalore, along with case studies by business leaders from over 25 countries.
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