Engineering exports to reach $ 24 bln mark in 2006-07

New Delhi, Jan 21 (UNI) The engineering exports will touch 24 billion dollars mark in the current fiscal 2006-07, Engineering Export Promotion Council (EEPC) has said.

''The exports will rise up to 24 billion dollars in 2006-07, this will be the highest among all items in overall merchandise exports from India,'' EEPC Chairman Rakesh Shah said.

The exports in April-October 2006-07 was over 13 billion dollars recording 29 per cent growth compared to corresponding period last year.

While engineering exports registered a growth of 25.5 per cent amounting to 20.34 billion dollars in 2005-06, compared to 16.2 billion dollars engineering exports in 2004-05, Mr Shah said.

The Council will also be celebrating its Golden Jubilee here on coming Tuesday.

President Dr A P J Abdul Kalam will be the Chief Guest at this function which will also be attended by Kamal Nath, Minister for Commerce and Industry.

More than 300 foreign delegates and Indian participants will be present at this function, where Council's past and present chairmen and executive directors will be felicitated by the President for their commendable services.

To mark the Golden Jubilee, the EEPC, the apex body of engineering exporters, is organising three-day India Engineering Meet and Exhibition commencing from January 22, which will be inaugurated by Commerce Secretary G K Pillai, at India Expo Centre, New Delhi-Greater Noida Expressway.

Eighty two buyers from Africa, 15 from the US and Canada, 30 from Europe, 50 from Latin America, 80 from ASEAN, Australia, New Zealand and 50 from CIS countries who intend to outsource their engineering requirements from India will participate in the event.

Around 150 Indian companies will participate including Maruti Udyog Ltd, NALCO, Forbes Gokak, RITES, TVS Motors, Bharat Earth Movers Ltd, Exide Batteries, Batliboi International, Mundhra SEZ, West Bengal Industrial Development Corporation, Finolex Cables etc.

The exhibition will witness a buyer-seller meet on the second day between Indian companies and buyers from Europe, the US and Canada, while on the third day, 100 buyers from CIS and Latin America will hold buyer-seller meets with their Indian counterparts.

Engineering exports which were a meagre 10 million dollars in 1956-57 have now reached 20.34 billion dollars in 2005-06.

The share of engineering goods in the total merchandise exports from India has also gone up from mere 0.5 per cent to 20 per cent during this period which is also the largest among all product groups, while the membership strength of the Council has increased from 40 in 1955 to 12,415 in 2006.

UNI