India Pavilion glitters at China’s Yiwu Imported Commodities Fair
Consulate General of India in Shanghai Prakash Gupta inaugurated India Pavilion set up during 5th edition of Yiwu Imported Commodities Fair 2016 on Friday along with Xiong Tao, Standing Committee Member, Yiwu Committee of CPC & Vice Mayor of Yiwu Municipal People’s Government and Jiang Ming, Minister of China, General of Commerce Chamber, Sheng Qiu-Ping, Party Secretary, Yiwu.
R K Verma, Director, Export Promotion Council for Handicrafts was also present during inauguration ceremony from India.
The fair is being held at Yiwu International Expo Centre, China from 13- 16 May, 20016 informed Rakesh Kumar, ED – EPCH.
YIWU, city in China, is known as ‘China Small - Commodity Market’. The city is famous for its small/medium commodity trade and vibrant market and is a regional tourist destination. It has for 6 consecutive years topped China's 100 top open markets and was for successive years listed as ‘China's civilised open market’.
It has been named as the banner of China's market economy and with a large variety of quality but cheaper commodities.
ED – EPCH further informed that looking at the versatility of the YIWU market, Council has decided to
participate in the 5th edition of YIWU Imported Commodities fair with 26 member exporters. Yiwu Imported Commodity Fair is a B2B fair with retail opportunity spread over in 40,000 sq. mtrs. area and widely visited by approx. 2 lakhs visitors and purchaser part of globe.
During 5th edition of this fair 5000 companies from across the world are participating. Kumar further elaborated that a MOU was signed between EPCH and China Council for the promotion of International Trade, Zhejiang Yiwu Sub Council to promote the handicrafts and home categories trade and strengthen the friendship between connected people in two countries.
Both the parties agreed to establish a long term strategic relationship, organise enterprises to participate in each other’s exhibitions and conferences to make it convenient to import and export.
Indian exhibitors are displaying wide range of handicrafts and handmade products, knitwear, jewelry & accessories, crafts, household consumables etc.
Its an extension of endeavours of Export Promotion Council for Handicrafts to make brand image of Indian home, lifestyles, fashion and textiles products world over through participation in International trade fairs and exhibitions.
It is expected that with the participation in above B2B fair, India would be able to make a mark in Chinese market whose share is more than 30% in the world market.