Kolkata , March 21,2023 : The World Trade Center Association (WTCA) has joined hands with Merlin Group, for developing a World Trade Centre, being the first under construction World Trade Center in Eastern India. The proposed World Trade Center is located in the Nabadiganta Industrial Township Authority (NDITA) area, Salt Lake, West Bengal.
The License Agreement for World Trade Center, duly executed, was exchanged between Mr Scott Wang, Vice President, World Trade Center Association, Asia Pacific region, and Mr Sushil Mohta, Chairman along with Mr. Saket Mohta, Managing Director of Merlin Group, Kolkata.
The investment for the World Trade Center at Salt Lake will be about INR 1500 Cr.
It will be a facility of 3.5 million sq.ft
It will create 30,000 jobs
Mr Scott Wang, who is heading the Asia-Pacific region of World Trade Center Association, which includes many countries, such as, India, Australia, Bangladesh, China, Indonesia, Japan, Malaysia, Pakistan, Singapore, South Korea, and Srilanka, visited Kolkata for the occasion, commented that it will support in attracting business with overseas countries and also promote trade and business through 320 World Trade Centers spread over nearly 100 countries across the world.
Mr. Wang also explained that World Trade Center Association was formed in the year 1970, is a non-profit, international trade association and a vibrant membership community with a mandate to promote and facilitate trade and investment opportunities on a global scale. Through our more than 300 Members with state-of-the-art World Trade Center-branded facilities or operations in cities across nearly 100 countries. Our Association serves as a true beehive of economic activity and provides an environment of trust and credibility. The World Trade Center Association is an influential global network comprising an ecosystem of conference, exhibition centres, economic development agencies, Real estate developers, universities, logistical hubs, airports, ports, free trade zones and more.
According to Mr Sushil Mohta, the proposed World Trade Center will reinforce the economic prosperity of West Bengal as well as Eastern India by forging collaboration with international trade bodies and investors from other countries through other World Trade Center members. The proposed World Trade Center will contribute significantly to the State Exchequer and will create 30,000 jobs.
In India, the oldest World Trade Center is in Mumbai. There are also World Trade Centers in Bangalore, Chennai, New Delhi, Noida, Pune among others.
Mr. Saket Mohta, Managing Director of Merlin Group commented that the proposed World Trade Center would consist of sprawling 3.5 million sq. ft at Nabadiganta Industrial Township Authority (NDITA) area, Salt Lake, West Bengal, with an investment of Rs. 1500 Cr. It will be an iconic State of Art facility having World Trade Center branded Services including trade information, trade education & research, inbound & outbound trade missions, business services, tenant services, international business club, conference facility, convention and services, exhibition
facility and IT/ITes offices, combined with support facilities, retail, 5-star hotel, F&B outlets, as well as entertainment facilities, as per the present policy.
He also commented that the proposed World Trade Center will be another feather in the cap of West Bengal and will help in Bengal to attract its youth giving them a vibrant opportunity and quality lifestyle with its proposed development.
Merlin Group is committed to work closely with the State Government for the Development of Trade industry, and overall economic growth of West Bengal, added Mr. Sushil Mohta.
`ANNEXURE – A’
ABOUT WORLD TRADE CENTER (WCTA)
WTCA
The World Trade Centers Association (WTCA) is an umbrella organization for the global world trade center network that promotes trade and investment. Established in 1970 and Headquartered in New York, WTCA was Initiated from Twin Towers in lower Manhattan.
The World Trade Center addresses the key issues of International Development through educational programmes, research & publications, tenant facilities and an array of trade activities. WTCA provides a global network with integration of international trade facilities and services.
A world trade center is a recognizable symbol of locally-focused economic strength in world commerce. Anchored by a unique combination of tenants and visitors, a world trade center acts as a bustling hub of export activity. With more than 322 World Trade Centers (WTCs) in nearly 92 countries, the World Trade Centers Association (WTCA) provides a portfolio of branded offices and commercial real estate, alongside an extensive suite of trade services for tenants, thereby linking them with the rest of its global network.
India, has been one of the fastest growing region in the global network of WTCA, having Mumbai as one of the first amongst initial WTC operations
Benefits of the City:
¤ Prestigious brand creates an international interface of the city, thus driving the economy and enhancing the image of the state..
¤ Model of Integrated facility and services anchors the development of CBD and other business areas
¤ Access to global market generates employment and taxation revenues and Inflow of international business travelers brings business opportunity to many industries
¤ Trade services creates prosperity by assisting small and medium-sized Companies, with Partnership shares global resources with local business community
Business Enabler for companies
¤ Network and expertise provide strong support to inbound and outbound Investment. Information flow enables smart decision-making and effective execution
¤ One-stop integration of facility and services improve the operation efficiency of tenants and business members
¤ Direct access to global market reduces cost of distribution
¤ Training provides human resources with international business capacity