The integration of the domestic economy through the twin channels of trade and capital flows has accelerated in the past two decades which in turn led to the India.s GDP reaching Rs 167.73 trillion (US$ 2.30 trillion) in 2017-18. Simultaneously, the per capita income also nearly trebled during these years. India's trade and external sector had a significant impact on the GDP growth as well as expansion in per capita income. Total exports from India (Merchandise and Services) registered a growth of 1.93 per cent year-on-year during April-September 2019 to US$ 267.21 billion, while total imports estimated to be US$ 312.16 billion, exhibiting a negative growth of 3.15 per cent according to data from the Ministry of Commerce & Industry.

India is presently known as one of the most important players in the global economic landscape. Its trade policies, government reforms and inherent economic strengths have attributed to its standing as one of the most sought-after destinations for foreign investments in the world. Also, technological and infrastructural developments being carried out throughout the country augur well for the trade and economic sector in the years to come. Also, with the Government of India striking important deals with the governments of Japan, Australia and China, the external sector is increasing its contribution to the economic development of the country and growth in the global markets. Moreover, by implementing the FTP 2014-19, by 2020, India's share in world trade is expected to double from the present level of three per cent.

In this context the Bengal Chamber of Commerce & Industry organised an International Trade Conclave focusing on Trade Finance, Infrastructure, Recent WTO ruling on Export promotion schemes and Proposed New Incentive Schemes (RoDTEP) and 'Rebranding Bengal as an Export Hub'.

Mr. Mukul Sarkar, Chief General Manager, Exim Bank, Mr. Y Sudheer, Regional Manager, Eastern Region Export Credit Guarantee Corporation Ltd. and Mr. Rajib Maitra, Member, International Trade Committee, BCC&I and Director, Deloitte Touche Tohmatsu India LLp discussed the role of Finance in International Trade and how the trend is slowly moving from conventional to non-conventional modes of trade Financing in various parts of the country.

Mr. B.K. Panda, Development Commissioner, FALTA SPECIAL ECONOMIC ZONE, Department of Commerce, Ministry of Commerce & Industry, Govt. of India talked about how SEZs play an important role in supporting trade and what challenges they face and how they overcome it.

Mr. Timir Baran Chatterjee, Chairperson, Indirect Taxes Committee, Senior Partner, Tax Connect Advisory Services LLP and Ms. Anindita Chatterjee, Partner, Tax Connect Advisory Services LLP made a short but crisp presentation on the Recent WTO ruling on Export promotion schemes and Proposed New Incentive Schemes (RoDTEP) which the participants, who were most exporters found very effective for their day to day activities.

Mr. Manjit Nayak, Additional Director (Officer-In-Charge), Software Technology Parks of India (STPI) and Mr. Alok Gupta, Managing Director, Par Enterprises Pvt. Ltd. expressed very well the history of trade associated with Bengal and the reasons why Bengal can still flourish as an Export hub and how a liitle change in mindset of the business community in Bengal can lead the state to become an 'Export Hub'. Mr. Nayak mentioned how the growth of IT start-ups in Bengal is already giving results and how the revenue of the state has increased through IT exports from the state.

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.