EEPC says incentives to help trim dip in engineering exports

EEPC says incentives to help trim dip in engineering exports
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Feb 09, 2013, 05.31 PM | Source: PTI

EEPC says incentives to help trim dip in engineering exports

EEPC says incentives to help trim dip in engineering exports

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EEPC says incentives to help trim dip in engineering exports

EEPC says incentives to help trim dip in engineering exports

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Mumbai, Feb 8 (PTI) Amid a seven per cent decline in exports of engineering goods in the first three quarters of the current fiscal, industry body EEPC today said it is hopeful of that the dip will be arrested at 1-2 per cent for the entire year. During the April-December period of the current fiscal exports of engineering goods stood at a little over USD 40 billion against USD 43 billion a year ago, a decline of nearly 7 per cent. "I hope we will be able to arrest the decline to about 1-2 per cent by the end of the fiscal with the recent incentives," EEPC (Engineering Export Promotion Council) Chairman Aman Chadha, while announcing the second India Engineering Sourcing Show 2013 (IESS 2013), which will open here from March 14, said his optimism comes from the incentives announced late December. Chadha said EEPC will be focusing more on two markets going forward - Iran and Iraq--apart from looking at opening up new opportunities in newer markets for engineering companies. He said the forthcoming expo will see over 1,000 international buyers, out of which nearly 130 will be from Iran and Iraq alone. "We expect over 400 exhibitors and 1,000 overseas delegates to attend the expo being held on March 14-16. In addition to the Czech Republic, exhibitor delegations are coming from Australia, Japan, France, Thailand, Bulgaria, Argentina, and Yemen among other countries," Chadha said. The second IESS will focus on enhancing bilateral trade with European countries and various emerging economies of Africa, Asean, CIS and Latin America he said, adding that the Czech Republic is the partner country this year. He also said this year's show will be bigger and better as over 100 Czech companies are attending it. The Indo-Czech bilateral trade is only around USD 1.3 billion, but is expected to double in the next two years, he said, adding that the Czech Republic has already shown its commitment to further trade relationship with India as it plans to invest around 400 million euros in the next two years out of which over 100 million euros have already been invested in Maharashtra. Joint Secretary at the Commerce Ministry Sumanta Chaudhuri said, "The IESS has been an active platform for the trade industry to exhibit the country's offerings in the engineering sector. The platform also provides opportunities for companies of both sides to ink business deals and enhance their opportunities," he said. PTI BEN NP RAH ksr DKR SRE

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