The industry’s 20th annual flagship event is expected to draw about 1,000 delegates from 45 countries the world over, with Bahrain in the Persian Gulf as the focus country and host Karnataka as the partner state.
“The summit will highlight investment opportunities emerging across the country and offer ideas on how a new class of consumers can propel growth,” Karnataka Chief Minister Siddaramaiah told reporters here Saturday ahead of the three-day event.
Organised by the union commerce ministry in association with the home state, the summit will bring multiple stakeholders and policy thought-leaders on a platform to exchange ideas and evolve solutions to the challenges confronting India and the world.
Union Commerce and Industry Minster Anand Sharma and Siddaramaiah will kick-start the summit by addressing the gathering at the inaugural session.
World Trade Organsiation (WTO) director-general Roberto Azevedo will also address at the summit, which will his first in Asia after the historic agreement at the trade body’s ninth ministerial meeting at Bali in Indonesia in Dec 3-7, 2013.
The summit theme is on “Emerging Global Value Chains: Building Partnerships”.
“Global value chains (GVCs) define the new age production process prevalent in the contemporary world. Production of goods and services are fragmented and spread out across the aglobal village’ to reap benefits of specialization,” Siddaramaiah said.
GVCs challenges conventional wisdom and outlook on economic development, globalisation and policies developed around it.
The delegates will also deliberate on challenges and opportunities emerging-market and developing economies face as they seek to integrate into the global production chain and how partnerships will help in integrating companies from developing countries into the global value chain.
“As partner state, our focus is on developing infrastructure to spur industrial growth on a higher trajectory. We want to position Karnataka as the most preferred business destination in the country,” Siddaramaiah asserted.
Bahrain will highlight its privatisation and diversification to offer Indian businesses opportunities to participate in its resilient economy.
Building upon the political, diplomatic and economic ties between the two countries, a high-level Bahrain delegation led by Minister of Transportation & Acting Chief Executive of Economic Development Board Kamal bin Ahmed Mohammed is participating in the summit.
A special session on Bahrain will highlight opportunities the island country presents for Indian businesses and investors.
Among trade ministers listed to attend the summit are Milan Hovorka from Czech Republic, Rizal Affandi Lukman from Indonesia, Khairallah Hassan Babiker from Iraq, Norihiko Ishiguro from Japan, AY.B. Dato’ Sri Mustapa Bin Mohamed from Malaysia, Sayyad Abd-Al-Cader Hossen from Namibia, S. Iswaran from Singapore, Abdalah O Kigoda from Tanzania, Sultan bin Saeed Al Mansoori from the United Arab Emirates (UAE), Emmanuel T. Chenda from Zambia and M.C. Bimha from Zimbabwe.
Organisation for Economic Cooperation & Development (OECD) deputy secretary-general William Danvers is also attending the summit.