Inaugurating a unique Intechmart Gujarat '98, he said the four focal points of the first phase of the TBSE project will be Gujarat, in addition to Andhra Pradesh, Punjab and Orissa. The project will be implemented by the ministry in collaboration with United Nations Industrial Development Organisation (Unido), Asian and Pacific Centre for Transfer of Technology (APCTT), Small Industries Development Bank of India (Sidbi) and respective state governments.

Initially, a sum of Rs 3.20 crore has been set aside for the phase-I, with the government of India contributing Rs 1.60 crore, APCTT and Sidbi Rs 40 lakh each (in kind) and the rest by the stategovernments.

Bakht said with access to modern technology being made simpler, total technical collaborations have registered an increase of over 15 per cent in the last one year. Despite a sluggish capital market, he said, domestic financial institutions (FIs) have been able to considerably fill the gap. Loan approvals have increased by about 100 per cent in the first half of the year compared with the coresponding figure in 1997.

"With India fast becoming part of regional trade blocs due to its strategic position in Indian ocean," he said, "India has the potential to emerge as a major exporter of technical designs and knowhow and a world leader in light and heavy engineering goods, computer softwares and a variety of green areas, apart from our traditional areas of garments, leather and jewellery."

Presiding over the inaugural session, Gujarat industries minister Suresh Mehta said the spadework for arranging this unique event was launched a year back. It is basically aimed at helping SMEs upgrade theirtechnology and capacity and be globally competitive. For every SME contributing Rs 10,000 for each project proposal, he said, the sponsors spent Rs 1.50 lakh.

The three-day investment-cum-technology transfer mart, called ``Intechmart,'' has been jointly hosted by the Gujarat government's industrial extension bureau (iNDEXTb), GoI, Confederation of Indian Industry (CII) and Unido, the latter contributing over $100,000 besides consultancy services.

The stage has been set for signing an MoU for 158 specific project proposals worth $3.51 billion (Rs 14,767 crore) from domestic entrepreneurs at the unique one-to-one meeting arranged with foreign collaborators during the three days.

Over 50 foreign envoys and representatives of MNCs from 22 countries, including high commissioner of Kenya, deputy high commissioners of UK and Canada, besides SMEs from 64 Indian companies are participating in the event. Prominent among them are Swedish Trade Council, Jetro of Japan, Indo-German Investment Promotion Services,Singapore Trade Development Board, the beggest delegation coming from Republic of Slovenia.