KOLKATA, March 21 (PTI): A US-based trade association on Tuesday joined hands with real estate developer Merlin Group to set up a ‘World Trade Center’ in Salt Lake area near the metropolis.
The proposed structure would be built at a cost of Rs 1,500 crore and has the potential to create “30 lakh jobs”.
Chairman of Merlin Group Sushil Mohta said the 3.5-million-sq ft WTC will be the first of its kind in eastern India.
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Mohta said the proposed facility will help in attracting business from overseas and also promote trade through 320 such WTCs spread over 100 countries.
In a statement, Scott Wang, head of the Asia-Pacific region of World Trade Center Association (WTCA), said it is a non-profit international trade body formed in 1970 and is headquartered in New York.
WTC’s have also come up in Mumbai, Bengaluru, Chennai, New Delhi, Noida and Pune, he said.
Mohta said the Merlin Group will make the investments, while WTCA will provide license and branding.
“We intend to complete the first phase by next year,” Mohta added.
The WTC at Salt Lake will comprise conference halls, exhibition centres, business clubs, IT/ITeS offices, 5-star hotels and food and beverage outlets.
Unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23, an RBI article said on Tuesday.
“We remain optimistic about India, whatever the odds,” said the article on the state of the economy published in the March edition of the Reserve Bank bulletin.
The NSO’s end-February data release indicates that the Indian economy is intrinsically better positioned than many parts of the world to head into a challenging year ahead, mainly because of its demonstrated resilience and its reliance on domestic drivers, it said.
