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Engineering goods exports to touch 20 billion dollars in 2006-07

Written by: Staff
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New Delhi, Apr 2 (UNI) The export of engineering products from the Northern region of the country have gone up by 30 per cent during 2004-05 over 2003-04 while overall engineering exports of goods and services crossed the 16 billion dollar mark during the year.

In 2004-05, the sector witnessed an impressing growth of almost 30 per cent in dollar terms and in the current year, India's exports are expected to be around 19-20 billion dollars, said Mr Rakesh Shah, Chairman, Engineering Export Promotion Council (EEPC) at the Northern Region Golden Jubilee Celebrations here recently.

''CONCOR has connected ICD Tughlaqbad to Haldia in West Bengal with container movement. This would to a great extent render the products of north competitive in the markets of Southeast Asia, which has a great potential,'' Mr Shah said.

EEPC Chairman further mentioned that, however, there are issues like infrastructure, labour, power and state level taxes including VAT which need to be seriously addressed by the State Governments to achieve the set targets.

Mr Shah informed that many important promotional activities have been planned during the financial year 2006-07 which include two INDEEs in Russia and China and have also planned an India Engineering Meet here (in New Delhi) where 200 foreign business delegates would be invited from Latin America, CIS countries, Africa, Southeast Asia, Australia, New Zealand and Europe.

He also said that India's exports comprise high value added advanced capital goods and services to technologically advanced nations. About 40 per cent of countries total engineering exports are exported to two most quality-conscious destinations, the United States of America and the European Community.

UNI BBS SR RK1238

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