The Hindu Business Line : European biz team keen to work with stainless steel cos

THE Indian stainless steel kitchenware and houseware industry has greatly impressed representatives of the European business team. Mr Rakesh Shah, Chairman of Engineering Export Promotion Council (EEPC), has said the European market for metalware and cutlery items was now estimated at euro 2.94 billion per year, 68 per cent of which is represented by metalware and 32 per cent by cutlery.

Describing the recently-organised 5-day visit of a European business delegation to Mumbai and New Delhi by the EEPC as a success, Mr Shah said the close interaction provided the Indian manufacturers with a good opportunity to project India's image as a supplier of world-class kitchen and houseware.

He told Business Line that the visit of the European team has also opened up possibilities of setting up joint ventures and technology transfer arrangements, which will not only increase India's exports but also enhance the capabilities of Indian manufacturers to meet international demand and competition.

The buyer-seller arrangements emanating from the business contacts made during the 5-day visit, according to the EEPC chairman, have the potential for generating exports of more than euro 7 million in the short to medium term.

He said in view of the rising cost of production in Europe, the visiting delegation of European manufacturers showed a great deal of interest in sourcing stainless products such as pans, trays, cutlery, kitchen tools, mixing bowls, chaffing dishes, tea pots and various other items (in 18/10 steel), houseware and gift articles in materials such as stainless steel, copper, brass, aluminium and hollow-ware in aluminium casting etc.

The European team, comprising six delegates, interacted with some 30 Indian manufacturers of various stainless kitchen and houseware products, and later visited factories of Indian companies of specific interest to them.

Mr Shah said Indian manufacturers have now become quality conscious and are in continuous process of developing new designs and products for meeting the ever changing international demands. He said the Indian stainless steel houseware sector today was producing more 5.5 lakh tonnes various kinds of products, of which nearly 20 per cent was being exported annually.

In terms of market coverage, North and South America account for 30 per cent of total exports followed by Asia (25 per cent), Europe (20 per cent) and Africa (20 per cent).

Cost-effective production techniques, availability of highly skilled workforce and a steady supply of raw materials now allow Indian manufacturers to take on international competitors, he pointed out.

He said the ability to accept smaller orders and a wide range of products also adds to the advantage of Indian manufacturers.