EEPC targets higher growth of Engineering export this year

Kolkata, Nov 15 (UNI)Engineering Export Promotion Council(EEPC) has upgraded its export target to 25 billion dollars during the current financial year from 23 billion dollars set earlier,in the wake of huge growth potential in African and South American markets.

This was stated here today by EEPC Chairman Rakesh Shah while speaking to newsmen to announce the Council's decision to participate in the four day Indian International Export Exhibition(INDEE)in Cairo from Novemver 23.

Stating that a total number of 115 major Indian engineering exporters would display their products in the global exposition called INDEE-Cairo, Mr Shah said their basic aim was to double the volume of Indian engineering exports to Egypt from the present about 145 million dollars to 300 million dollars within the next three years.

At present India's share in Egypt's total export volume was only about one per cent, while that of other African countries varied between five to seven per cent.

He said in January next year EEPC would organise a mega international buyer-seller meet called 'India Engineering Meet' at Noida in which more than 700 engineering export organisations from around the globe had confirmed participation making it as one of the largest business gatherings in the country so far.

Referring to the export of engineering goods from India and the role of EEPC, Mr Shah said during the first six months of the current fiscal,the total volume of export done by EEPC members was to the tune of 11.5 billion dollars,which was 39 per cent higher than the corresponding period last year.

"On the basis of this we have revised our previous annual target of 23 billion dollars and are confident of crossing the 25 billion dollar mark by March 2007," he said.

He said since its inception about a decade ago EEPC had participated in 15 major international export expositions, including the mega Hamburg International fair last year. Among the other countries where EEPC had put up stalls and received confirmed business orders to the tune of several bullion dollars were Singapore,South Africa,Mexico, Australia, UAnited Kingdom,Jakarta, Nairobi and Caracas.

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