'Ease of Doing Business' to be theme of 39th IITF 2019

The 39th edition of India International Trade Fair 2019 which will be commencing from Thursday will have 'Ease of Doing Business' as its theme. The trade fair will be inaugurated by Minister of Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari. This year's theme has been inspired by India's achievement of rising up to 63rd rank on the World Bank's Ease of Doing Business Index from 142nd rank in 2014. The Minister of State for Commerce and Industry Som Parkash will also be present during the inaugural function at Pragati Maidan in Delhi.

India International Trade Fair

India International Trade Fair showcases the country's struggle for socio-economic empowerment and industrialisation along with its emergence as one of the most rapidly growing and dominant global economies. The event has been a unique platform for displaying entrepreneurial skills by large corporations, MSMEs, non-government agencies, artisans and self-help groups to promote their products and services to potential customers. It is also a platform for various Central and state government departments and agencies for the dissemination of information on progressive reforms, new schemes and initiatives.

READ | Virat Kohli Likely To Smash Sourav Ganguly, Greg Chappell Records Against Bangladesh

According to the statement issued by the India Trade Promotion Organisation, "The fair will serve as a convergence point for government agencies, private sector enterprises, and non-government institutions which have aligned their activities with the country's development objectives." The India Trade Promotion Organisation has been organising the IITF for close to four decades.

The event will witness participation from many countries including Australia, Bahrain, Bangladesh, Bhutan, Britain, China, Egypt, Hong Kong, Indonesia, Iran, Myanmar, Nepal, Thailand, Tunisia, Turkey, and Vietnam. The status of the partner country this year has been accorded to Afghanistan while South Korea will be the focus country. Bihar and Jharkhand will be the focus states. 

READ | Did Kapil Dev Channel His Inner Ranveer Singh? Cricketer's Picture From 2014 Goes Viral

India on 63rd position

India has jumped 14 places to the 63rd position on the World Bank's ease of doing business ranking released on Thursday. India was also among the top 10 performers on the list for the third year in a row. The overall ranking is based on ten factors including starting a business (136th rank), dealing with construction permits (27th rank), getting electricity (27th rank) and registering property (154) among others. Apart from India, the other countries on this year's 'top 10 performers' list are Saudi Arabia (62), Jordan (75), Togo (97), Bahrain (43), Tajikistan (106), Kuwait (83), China (31) and Nigeria (131).

READ | Amit Shah Contradicts Uddhav Thackeray, Says 'Sena CM' A New Demand

About 'Ease of doing business'

The 'Ease of doing business index' ranks countries against each other based on how the regulatory environment is conducive to business operation, stronger protections of property rights among other parameters. Economies with a high rank (1 to 20) have simpler and more friendly regulations for businesses.

READ | Amid BJP-Sena Fallout, Ally JD(U) Breaks Silence On Maha Guv's Decision

(with ANI inputs)