Name: Punit Beriwal

PRN: 14020241112
SIIB(IB), Div B
Importance of WTC in India.
India as a leading destination for international trade occupies a very significant position as the second
fastest growing economy in the world. WTC in India promotes bilateral trade and investment, meeting
with overseas enterprises, chambers of commerce and high level officials and consular corps. WTC
represents industries across sectors, facilitating and fostering enterprise development. Organising
Exhibitions, Conferences, Investment Promotional Programs and Trade related discussions.
Assistance in market development for members, representing members problems to the advisory
committees at central as well as state government level is the core essence of WTC.

Importance of Pennsylvania for India

An interactive session on Exploring Business Opportunities with Pennsylvania jointly organized on
4th December 2014 by MVIRDC World Trade Centre, All India Association of Industries and
Pennsylvania International Business Development.
Shale gas in the Pennsylvania is rapidly increasing as an available source of natural gas. Led by new
applications of hydraulic fracturing technology and horizontal drilling, development of new sources of
shale gas has offset declines in production from conventional gas reservoirs and has led to major
increases in reserves of US natural gas. The fast growing energy sparse Indian economy may source
its energy requirement from Pennsylvania.
Exploring other avenues from mutually beneficial cooperation between India and Pennsylvania India
has a large young population in need of quality education. Pennsylvania is an education hub being
home to leading universities such as Wharton School of the University of Pennsylvania, Cairn
University, California University of Pennsylvania University of Pittsburgh, etc.
Also, Pennsylvania holds expertise in technology and innovation, mining, manufacturing of
chemicals, rubber, plastics, industrial machinery, steel manufacturing, etc. which it intends to share
with the India.
Pennsylvania exhibits ease of doing business with a competitive tax structure, proximity to low cost
energy, good road, rail and air connectivity, technological expertise and access to a skilled workforce.
Also, the state in strategically located giving access to consumers in the Northeast and Midwest U.S.
and Eastern Canada.
Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India
Association of Industries said that the US is a prominent trading partner of India with bilateral trade
worth US$ 61.6 billion with Indian exports worth US$ 39.1 billion and Indias imports worth US$
22.5 billion. Also, the US is the fifth largest source of foreign direct investments into India
constituting nearly 5.48 % of the total FDI into India. We seek to cross bilateral trade worth US$ 100
billion in the years to come through joint ventures, business meetings, exchange of delegations, etc.
The much awaited visit of US President Barack Obama to the nation demonstrates growing
importance of the Indian economy in the US.
An MOU was signed between MVIRDC World Trade Centre & Pennsylvania Department of
Community & Economic Development and All India Association of Industries and Pennsylvania
Department of Community & Economic Development to promote trade and investment between the
two nations.