World Trade Center – Shamshabad Phase I to be ready by 2025
By 2025, the first phase of the Shamshabad World Trade Center (WTC) will be completed. About 5,000 to 8,000 people would be employed and it will be approximately 15 lakh square feet. Y Varaprasad Reddy, Vice Chairman of WTC Shamshabad, indicated that between Rs 500 and Rs 750 crore will be invested in this Phase.
The Kapil Group is in charge of completing the multi-phase WTC Shamshabad. It belongs to the World Trade Centers Association (WTCA) and is now developing into the largest WTC. WTC are usually vertical constructions. It will be up in a number of buildings constructed horizontally since it is rising toward Shamshabad. About 12 stories will be in each tower. As a part of a global alliance, WTCA supports the construction and operation of individual World Trade Centers. It is now running out of a temporary location in Nanakramguda.
Construction related works are on and the campus will be solar powered. It will have office space, hotels, co-living spaces, conferencing facilities, entertainment and food and beverages outlets and other enabling infrastructure. Like other WTCs, WTC Shamshabad will offer trade information and education, host trade missions and shows, offer translation services, market research, business services, networking events and B2B matchmaking, international investment facilitation, advocacy, among other facilities.
WTC Shamshabad is in proximity to IT/ITes parks, aerospace parks and electronic manufacturing clusters and e-commerce and logistics parks. “The WTC does not compete with businesses and organisations already engaged in world trade. Instead, it works to help the MSMEs venture into unexplored areas by exposing them to global good practices,” he said.
“We will connect the local MSMEs in the IT, ITES, BFSI, Food processing and other segments with global trade. About 5,000 to 8,000 people will be employed in the first phase. The anchor tenant will set the tone for space leasing trends in the WTC and more investments will come in as it expands every year,” he said.
This will be the sixth WTC in India. The group also has a licence for a WTC in Visakhapatnam later. “WTC Shamshabad will have synergy with other WTCs. While the physical structure will be different, the range of services offered at the WTC will be the same as other WTCs in the world. WTC will be an investment magnet pushing the local companies to expand as well as getting fresh investments. WTC will also be a new channel to attract FDI for the State,” he explained.
“Big players do not have a problem launching their products or services in new markets or locations. On the other hand, MSMEs do not have similar resources. Therefore focus will be on opening up unexplored markets for the local MSMEs. WTCs elsewhere are one of the key drivers of economies,” said Reddy.
“WTC will guide local companies to find new markets here and vice versa. Once we get references from other WTCs, we direct them to the concerned Government departments. WTC will complement TS Government’s efforts in getting investments to the State,” said Akhilesh Mahurkar, Director, ATC Shamshabad.
MSMEs have been hit by the Covid but they are also seeing a rebound. Government has been proactive and there is also support from the banking sector. Startups are also able to raise funds, he said.
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