The 26th edition of India International Trade Fair was inaugurated by Union Minister of External Affairs, Shri Pranab Mukherjee, at a colourful and well attended function at Hamsadhwani Theatre, Pragati Maidan, New Delhi, today.

Union Minister of Commerce and Industry, Shri Kamal Nath, Minister for Commerce, Industry and Employment, Government of Madhya Pradesh. Shri Babulal Gaur. Minister for Major Industries, Commerce & Export Promotion, Tourism & Sugar, Government of Andhra Pradesh, Dr. (Smt.) J. Geeta Reddy, Minister of Economy, Slovak Republic, Mr. Lubomir Jahnatek, Commerce Secretary, Shri G.K. Pillai, Chairman & Managing Director, India Trade Promotion Organisation, Shri N.N. Khanna and members of the Diplomatic Corps, were among the dignitaries present on the occasion.

In his inaugural address, Shri Pranab Mukherjee complimented the organisers for holding the HTF on such a vast scale while terming the fair as a Mini India in all her colours . The growth and expansion of the fair is indicative of the transformation of the Indian economy from economy of deficiency to the economy of surplus. Since last five to six years , there has been a radical change in India's export basket which shows the talent of Indian entrepreneur and appropriate policy framework. The twin themes of the fair. Tourism and Small & Medium Industry. are employment generation oriented. The Minister said that the fair would provide a major forum for national and International buyers representing the entire gamut of business such as technology transfer, joint venture, product launches, sourcing and direct marketing .

Shri Kamal Nath, in his address, stressed the need to ensure that the ongoing economic liberalisation is not confined to urban India only. It was pointed out that India was now in the second stage of comprehensive economic liberalisation that has made India from aid recipient to aid doner. Due to the Government policy , inflation has been contained, the fiscal deficit and interest rate have been brought to acceptable levels while external debt indicators have improved with the exchange rate gradually freed from administrative controls. Describing the IITF as a landmark event in Asia, he commended the Introduction of the concepts of Partner and Focus States by ITPO from last year's IITF. This highlights the contribution of States to the national economy .

This year's partner State is Andhra Pradesh while Focus State is Madhya Pradesh. Shri Kamal Nath also expressed his happiness on the selection of SMEs and Tourism as the themes of IITF2006 for their key roles in the socio- economic progress of India. According to him, facilitating the commercial development and enhancing the competence of SMEs sector is one of the principlal objectives of the Indian economy as this segment contributes 6.7 per cent of country's GDP , neatly 40 percent of the total industrial output while accounting for a sizable part of India's merchandise exports. Equally significant is the role of tourism that also touches rural India while being a significant employment generator. Together, these sectors can bring about the greatest good to greatest number I Shri Kamal Nath observed.

Dr. (Smt.) J. Geeta Reddy highlighted the vast potential of Andhra Pradesh. She said that the State has tremendous opportunities for attracting foreign investment and stimulating industrial growth and development. She also mentioned that Andhra Pradesh has emerged as an ideal tourist destination offering a plurality of attractions for the visitor.

While expressing his happiness on the status of Madhya Pradesh as a Focus State, Shri Babulal Gaur described IITF as undoubtedly an unique platform to showcase the intrinsic potential of the State through the State Pavilion at Pragati Maidan . He said a trade and conventional centre was proposed to be set up in Bhopal in the near future.

In his welcome address, Shri N.N.Khanna , CMD , ITPO underlined the salient features of the fair. The vote of thanks was proposed by Shri G.K. Pillai, Commerce Secretary ,Government of India.

IITF 2006 ( November 14- 27 ) will be open to business visitors from 10.00 a.m. to 1.00 p.m. (Monday to Friday), while the general public can visit the fair from 10.00 a.m. to 8.00 p.m.(Weekends & Holiday) and 1.00 p.m. to 8.00 p.m. (Monday to Friday).