World Trade Center Shamshabad Interim Office inaugurated
The World Trade Center (WTC) Shamshabad Interim Office was inaugurated on Thursday by Scott Wang, World Trade Centers Association (WTCA) Asia-Pacific Vice President, at Kapil Kavuri Hub in the Financial District in Hyderabad.
WTC Shamshabad and Visakhapatnam chairman Y Varaprasad Reddy, Director Akhilesh Mahurkar and Associate Director Srujana Chadalawada were present.
The Phase I of WTC Shamshabad is expected to be ready by 2025 end. It will be about 15 lakh sq ft and will employ about 5,000 to 8,000 people. This Phase will see an investment of Rs 500-750 crore. WTC Shamshabad is a World Trade Centres Association (WTCA) organisation and is the biggest WTC in the making. WTCA has a presence in more than 320 locations and helps local MSMEs.
“We have the Kapil Group as a partner for this region. They came with a vision to support local industry and regional economic development. We had discussions on how to leverage the WTCA network,” said Wang, adding that there will be demand for quality office facilities in Telangana due to the growth of the IT sector.
India is a priority market for WTCA. “We are optimistic about India. This year, India’s economic growth rate is going to be the best. Economic recovery is happening. There would be a tremendous improvement in India’s infrastructure in the next 10 years,” he said.
From the interim office, WTC Shamshabad will facilitate the local industry to connect with the international buyers and arrange B2B meets as part of the trade services. WTC Shamshabad partnered with WTC Mumbai to host the Connect India International Tade Show, a virtual exhibition that will go on till November end. More than 100 exhibitors from Telangana are participating in it.
Scott, who met Telangana Aerospace and Defence Director Praveen PA, expressed interest in leading a trade delegation from Telangana to San Diageo and San Jose to facilitate transfer of technology to companies in Telangana in the aerospace and defence sector. Scott also interacted with officials of GMR Airport on using the WTCA network for trade services and logistics.
WTC Shamshabad signed an MoU with incubator of women-led enterprises WeHub to enable businesses expand through the WTC network.
