World Trade Center will be built over four acres inc Ranchi. The Department of Industry has sought land for this in the Smart City campus at HEC and the proposal has been sent to the city development department. The World Trade Center establishment process will be drafted as soon as the land is allotted. It can be sent for approval to the State Council of Ministers.
The Government of India has given a preliminary amount of Rs. 9.8 crores to the State Government for the establishment of the World Trade Center. The State Government will add remaining amount and execute the project. There may be additional help from the central government. The approval was given by the Indian government in 2018, the process of evacuation started again after two years.
All facilities related to international trade will be available in the same campus. A regional office of the Directorate General of Foreign Trade and offices attached to the Confederation of Indian Export will be there. Space will be provided for import-export companies. Facilities ranging from currency exchange to money transfer and facilities for air cargo, ship container and export management will also be available. Companies doing business internationally will also get space for display and promotion of their products.
Auto parts, software, bamboo crafts, tamarind, other agriculture and forest products used to be exported earlier which can now be expanded to cashew, stone sculpture, Tasar cloth, lacquer manufactured goods, ladyfingers, jackfruit and other products as well. With optimum use of the air cargo of Ranchi airport and start of operations of multimodal hub at Sahibganj more export opportunities are expected to open up.
