The decision to build a World Trade Center is good news for job seekers and will boost the financial sector. The first World Trade Center of eastern India, which will come up in Salt Lake’s Nabadiganta Industrial Township Authority area is expected to create around 30,000 jobs.
The World Trade Center Association (WTCA) has recently joined hands with real estate major Merlin Group and the licence agreement was exchanged between Scott Wang, vice-president of the World Trade Center Association, Asia Pacific region, and Sushil Mohta, chairman, Merlin Group, along with Saket Mohta, managing director, Merlin Group, Kolkata.
The blueprint
The 3.5 million square ft project will require an investment of Rs 1,500 crore and is expected to create 30,000 jobs over the years.
“The project will require around 10.5 acres of land and the first phase will be completed by the first half of 2024. Investment for the first phase would be around Rs 500 crore. The structure will have 16 floors,” said Sushil Mohta.
What’s in store
“The WTC will have a five-star hotel and retail blocks apart from other facilities. We will work closely with the state government. This will help the state to improve business and trade in the region and facilitate linkage with World Trade Centers across the world,” Mohta added.
Boost for economy
The proposed project will be an iconic facility with World Trade Center branded services including trade information, trade education, research, inbound and outbound trade missions, business services, tenant services, international business clubs, conference facilities, convention and services, exhibition facility and IT offices, combined with support facilities as well as entertainment facilities.
Other WTCs in India
In India, the oldest World Trade Center is located in Mumbai. There are also WTCs in Bangalore, Chennai, New Delhi, Noida and Pune. The World Trade Center Association was formed in 1970 as a non-profit, international trade association. It is a vibrant membership community with a mandate to promote and facilitate trade and investment opportunities on a global scale.
During the event, Wang said the project would attract business with overseas countries and also promote trade through 320 World Trade Centers spread over nearly 100 countries across the world. “Through our 300-odd members with state-of-the-art facilities and operations in cities across nearly 100 countries, our association serves as a true beehive of economic activity. It provides an environment of trust and credibility,” he said.
Sushil Mohta also said the project will reinforce the economic prosperities of West Bengal as well as eastern India. “The project will contribute significantly to the state exchequer and attract international trade bodies and investors from other countries through other World Trade Center members,” he concluded.