ENGINEERING EXPORTS TOUCH ALL TIME HIGH OF US $ 7.17 BILLION
JAITLEY GIVES AWAY ENGINEERING EXPORT AWARDS
Date : 26 Sep 2003
Location : New Delhi
India’s engineering exports has scaled an all time high of US $ 7.17 billion during the year 2002-03 surpassing the target of US $ 7.1 billion set during the last fiscal. Phenomenal growth has been achieved in the sectors such as prime steel, automobile, passenger cars, industrial machinery, power generating machinery etc. This was indicated by Shri Arun Jaitley, Union Minister of Commerce & Industry and Law & Justice, while giving away the all India export awards by Engineering Export Promotion Council (EEPC) here today. "The significant part of these exports have been those of capital goods and that too to the developed countries", Shri Jaitley said. Shri L. Mansingh, Director General of Foreign Trade and Shri Satish Dhanda, Chairman, EEPC were present at the function along with large number of exporters.
In his address, Shri Jaitley emphasised that India has excelled in services exports, especially those based on knowledge based resources. India has been recognised as a leading knowledge economy across the world. At the same time, every effort should be made to achieve the similar results in manufacturing and capital goods sector, the Minister said. "We should see to it that how we effectively use our institutions to achieve the desired economic growth", Shri Jaitley said and complimented the award winning exporters for having achieved such significant growth.
Shri Satish Dhanda informed that USA proved to be single major market for engineering exports accounting for approximately 18% of our global merchandise. He said the Council would achieve the target of US $ 8 billion set for 2003-04. As a part of promotional activities of the Council, INDIATECH Exhibition has been planned in Sao Paulo from 11-14 November this year. Also, the Council is opening INDIAMART-a large-scale showroom-in Sao Paulo for introduction of Indian engineering products in whole of Latin America.
The Minister gave away the All India Trophy for top exporters for the year 2000-01 in non-SSI category to Tata Motors Ltd. while Enfield Industries Ltd. bagged the trophy in SSI category. In project exporter category Bharat Heavy Engineering Limited got the top trophy whereas IRCON International Ltd. won the top trophy in merchant exporter category.