In the context of the present scenario of International Trade, where huge opportunities have opened up for India with Trump-economics, revival of EU demand, China's policy towards green tech, opportunities in the emerging markets, and other geopolitical advantages, the Bengal Chamber of Commerce & Industry organised an International Trade Conclave on 1st March 2019.

The real challenge for India lies not in the volume of its exports but the structure. The biggest labour-intensive export industry-gems and precious metals-provides one-time value addition with negligible power to boost real economic transformation. Even in the context of seizing the opportunity in labour-intensive sectors such as apparels and electronics, India struggles for comparative advantage against low-end manufacturers, such as Bangladesh and Vietnam. This weakening competitiveness needs to be addressed to sustain employment-generating export growth. The key lies in improving infrastructure, financing, easing land acquisition and boosting human capital.

Against a backdrop of growing protectionist policy measures in many developed economies, EM countries are, by contrast, actively cultivating and developing their trade partnerships. Several factors have recently shifted the gravitational axis of world trade in EM's favour. The US withdrawal from the Trans- Pacific Partnership (TPP) earlier this year has largely been viewed as a geopolitical and economic boon for China as it creates space for it to fill the void in trade in East Asia. This should liberalise commerce across several EM nations including Chile, Peru and Malaysia, and - if agreed - would be one of the world's most significant multilateral trade deals. More and more, EM countries' most important import and export partners are other developing nations. China, for example, is by far the top export destination for Brazilian products. While South Africa, India and Russia import more goods from China than any other country. This intra-regional trade is only set to continue with trade blocs, such as the ASEAN Free Trade Area (which includes Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar, Cambodia, and Laos) generating considerable internal trade momentum outside trading links with developed markets. Emerging countries are also becoming increasingly significant in terms of international trade as they become wealthier and domestic demand rises. As demand and consumption rises in EM, a confluence of supply side reforms, efficiency improvements and innovation has also paved the way for greater export capabilities. Strong secular growth trends in EM have spurred a monumental supply-side response through innovation, reforms and improved capacity utilisation. At the same time, recent shifts in developed-world trade policy towards a more protectionist stance, have contrasted with the more broadly free-trade outlook of EM countries. The eastern part of our country is rich in minerals, there is a huge scope of infrastructure building, the location of Bengal is quite unique to connect with the entire ASEAN countries, majority of the emerging markets. Keeping this in mind, the International Trade Conclave was structured focusing on Trade Finance, Technology, Emerging markets and Importance of SEZs. Special focus was also laid on Exports by MSMEs in Bengal and Opportunities of IT Exports from West Bengal.

As Bengal can play a pivotal role in India's Act East Policy, Bengal government has set a target of doubling the export growth rate of the state within 2021. There was an export of 8.23 billion US dollars from Bengal in the financial year 2016- 17, which has gone up to 9.15 billion US dollars in 2017-18. Products worth around Rs 62,000 crore have been exported from the state in 2017-18.

Huge emphasis has been put on MSME exporters to flourish from the State Government. Some of the measures taken by the Government of West Bengal for the benefit of its exporters are:

1. Information centre, set up jointly by the West Bengal Industrial Development Corporation (WBIDC) and the MSME department, to disseminate information relating to the exports and various schemes.

2. Export cell, set up at the district industrial centres, so that people interested in exports can gather information relating to it.

3. Around 80 officers from industry and MSME sectors to receive training at the Institute of Foreign Trade in Kolkata, for a period of one month from July 5.

4. Transport subsidy has been provided by the State Government for the benefit of potato farmers, businessmen and cold storage owners, for exporting potatoes to other states.

Software exports made by STPI from WB Durgapur, Haldia, Kharagpur, Siliguri & Kolkata was recorded at Rs. 7151 crores during 2016 - 17 which placed the state in a prominent position on the IT map of the country. It is clear that MSME Department is playing a crucial role in making significant changes to ensure growth of trade across the districts.

The International Trade Conclave very successfully captured the opportunities ahead in IT Export and other exports from the MSME sector of the state.

The Conclave witnessed the presence of many eminent speakers whose presence was much relevant for the summit. Mr. David Rasquinha, Managing Director, Exim Bank of India graced the occasion as the Guest of Honour. Other important speakers in the conclave were Mr. Shivaji Narvekar (General Manager - National Marketing Division), ECGC, Ms. Anindita Chatterjee, Partner, Tax Connect Advisory Services LLP, Mr. Rajib Maitra, Member, International Trade Committee, BCC&I and Director, Deloitte Touche Tohmatsu India LLp (Trade Infrastructure), Mr. B K Panda, Development Commissioner, Falta Special Economic Zone, Ministry of Commerce, Govt. of India, Mr. Sushanta Kumar Mishra, Vice President (Operation), Tata Steel Special Economic Zone Limited, Mr. Amit Datta, Joint Secretary- Exports & Director & Member Secretary- WBSEPS, Government of West Bengal, Mr. Gautam Kalia, Head - International Markets, Philips Carbon Black Limited, Mr. Jayanta Chakraborty, Senior General Manager, Indofil Industries Limited, Mr. Manjit Nayak, Additional Director (Officer-In-Charge), Software Technology Parks of India (STPI), Kolkata and Mr. Aninda Chatterjee, MD, WEBEL among others and Professor Pulak Ghosh, Decision sciences and Public Policy- IIM Bangalore.

The participants were mostly exporters from different industrial sectors.

The International Trade Conclave was successfully organised under the able leadership of Mr. Sourabha Dutta, Chairperson, International Trade Committee, BCC&I and Senior Vice President - Industrial Sales & Marketing, Exide Industries Limited, Dr. Bibek Ray Chaudhuri, Co Chairperson, International Trade Committee, BCC&I and Associate Professor, Indian Institute of Foreign Trade and Mr. A Mandal, Chairperson Emeritus, International Trade Committee and President - Business Development, Techno Electric and Engineering Company Limited.