'Fresh sops will arrest decline in engineering export'

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SME Times News Bureau | 09 Feb, 2013
Amid decline in exports of engineering goods for nine months in a row, industry body EEPC has said it is hopeful of that the dip will be arrested at 1-2 percent for the entire year, reports media.

"I hope we will be able to arrest the decline to about 1-2 percent 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 in Mumbai from March 14, Friday said his optimism comes from the incentives announced late December.

The government, in December end last year, has extended interest subsidy till March 2014 in a bid to boost their sluggish exports.

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.

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 percent, the report said.