New Delhi, Dec 11 (UNI) Expressing satisfaction over increasing project exports, Minister of Commerce and Industry Kamal Nath today stressed on the importance of technological upgradation for the country's project exporters for competing in the international markets.
Distributing the annual Export Awards of the Project Exports Promotion Council of India (PEPC) here, the Minister stated that a review for considering the proposals to simplify procedures and also follow up issues relating to taxes for moving towards conducive policies for consistent growth in project exports is underway.
The value of project exports has touched Rs 11,381 crore during 2006-07, while its growth over the previous year was more than 87 per cent in dollar terms.
''We should look out for product diversification and newer markets to further accelerate exports growth,'' he said adding that more efforts are needed to explore emerging opportunities in the African, Caribbean and Commonwealth of Independent States (CIS) regions.
PEPC, set up by the Ministry of Commerce and Industry in 1984 is in line with the Foreign Trade Policy. It undertakes the necessary export promotion initiatives and provides necessary technical information, guidance and support to Indian construction and engineering contractors/builders and consultants to set up overseas projects.