Currently, engineering accounts for over 25 per cent of the country’s export basket
The Engineering Exports Promotion Council India (EEPC India) is looking to go to tier-II and III cities and encourage the firms to join the global value chain and production networks as it prepares to increase the share of engineering goods in the total exports of US$ 450-500 billion next year, as per a senior official.
“Our strategy is to create more engineering exporters by moving into smaller towns all over the country through the opening of EEPC India Chapters,” said Mahesh Desai, chairman, EEPC.
Currently, engineering accounts for over 25 per cent of the country’s export basket.
Desai added that EEPC India has been carrying out several capacity building programmes and adding more and more engineering firms to onboard the exports bandwagon.
“Our objective is to move up the ladder and be a part of the global value chain and production networks, particularly, in light of the renewed thrust by the Government to sign free trade agreements (FTAs). It is understood that India is in touch with few more countries other than Australia, UK, EU and UAE to have FTAs. The developments are quite heartening,” said Desai.
Noting that EEPC India has opened two technology centres in Bengaluru and Kolkata and holding regular programs on various technology developments and modules catering to different industries, the EEPC India chairman said that required interventions on part of the government to boost exports are being taken up with relevant authorities.
“We are collecting the problems faced by our exporters and other engineering companies and taking up with the appropriate authorities, including Commerce Ministry, DGFT, CBIC, BIS, Ministry of Steel and Ministry of MSME among others,” he said.
Engineering exports during the period of April-September 2021 is about US$ 52.34 billion which is a growth of 60 per cent over April-September 2020 (US$ 32.72 billion) and 37 per cent growth over April-Sept 2019 (US$ 38.26 billion).
“Annualizing this means that engineering goods exports will be around US$ 105 billion in 2021-22 and close to the target set for engineering,” Desai said.