Engineering Exports to touch US $ 50 billion in the Current Fiscal

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Source : NEPS

NEW DELHI, Mar 4: Engineering Export Promotion Council (EEPC) India with the Ministry of Commerce and Industry, organized the Buyer Seller Meet at Indian Trade Promotion Organization (ITPO) here today. Shri Sumanta Chaudhuri, Joint Secretary, in the Ministry of Commerce & Industry, delivering the key note address on this occasion, stated that, “India is a major exporter of light and heavy engineering goods and has a well developed and diversified industrial machinery and capital base’. He further said, “Exports of engineering goods from India are likely to be over US $ 50 Billion in the current fiscal”.

According to official sources, buyer Seller Meet (BSM) has participation of over 40 delegates from USA, Canada, CIS, ASEAN & South Asian countries. This BSM organized by EEPC India is the second in the series this year. Engineering Sector is the most important sector in India’s global exports. This event was organized in conjunction with India ASEAN Business Fair and Business Conclave coordinated by FICCI, and is an initiative to provide a platform to engineering companies for mutual interaction.

Shri S.C. Ralhan, Regional Chairman- EEPC India, Northern Region in his address stated that, “India is in fact one of the countries which produces the highest numbers of Engineers in the world. He also stated that Asia as a continent is going to play a very important role in shaping the destiny of world trade and that the world should look at Asian markets afresh.” The export of engineering goods are in a state of flux at present and highlighted that the growth of exports of engineering goods during April-January 2011 has been to the tune of 70% over the same period last year, he added. During the meeting, the next edition of the India Show to be coordinated by EEPC to be held at Toronto, Canada from October 17-20, 2011 was also announced.

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