New Delhi, Nov 14 : Vice President Hamid Ansari inaugurated the ''28th India International Trade Fair (IITF) -2008'' organized by India Trade Promotion Organization (ITPO), here today.

Delivering inaugural address, the Vice President said that the fair has for over two decades provided a single venue outlet for showcasing the potential and achievements of the States and Union Territories in various fields. Besides business and industry, traditional crafts have attracted attention through the Fair. This year Orissa is the partner State and Kerala, the focus State. They reflect aspects of the cultural diversity of India besides being important destinations for trade and investment.

"The Trade Fair is being held at a time when the world is going through an unprecedented, ''once-in-a-generation'', crisis attributed by many experts to the combined result of globalization, credit expansion and deregulation resulting in the creation of a shadow banking system. Governments across the world are attempting to coordinate steps to contain it," he added.

He assured that India is a safe, secure and profitable trade and investment destination and hoped that the foreign business delegation participating in the Fair would take back impressions of the Fair and see India as a hub for high technology R&D, manufacturing and for services. The Trade Fair would continue to play its pro-active role in catalyzing trade, investment and technology transfer.

Ansari further said that it is significant that in this edition of the Trade Fair, Pakistan has been accorded ''Partner Country'' status and ASEAN the ''Focus Region'' status. This is significant in view of the economic orientation of our Look East Policy and our desire to enhance trade with our neighbours in the SAARC region.

"I welcome the foreign business delegations present here and invite them to feel the dynamism and entrepreneurship in the country today," he added.

"I hope that ITPO and the other business organizations would contribute to mentoring and motivating women to become entrepreneurs and make available to them access to credit and expertise at all levels," he said. (ANI)