Industry & Economy
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Foreign Trade
Indo-LAC meet generates enquiries worth $15m
Our Bureau
Kolkata
,
Dec. 2
THE recent two-day Indo-LAC (Latin American and Caribbean Countries) Buyer-Seller Meet (BSM) in Delhi organised by the Engineering Export Promotion Council (EEPC), has generated enquiries worth $15 million and confirmed spot orders of $1 million for Indian engineering goods companies.
This also points to a major boost in two-way trade in engineering goods between India and the LAC region.
Talking to Business Line here on Tuesday about the outcome of the first of the BSMs (for 2004-05) organised by the council, Mr Rakesh Shah, National Chairman of EEPC, said 38 companies from as many as 14 countries in the LAC region, straddling various segments of manufacturing activities, participated in the BSM. Among the participating countries are Columbia, Uruguay, Argentina, Brazil, Venezuela, Trinidad & Tobago, Mexico, El Salvador and Peru.
He said some 98 Indian engineering companies, mainly from Mumbai, Delhi and Coimbatore, participated in the meet. This is the third such BSM organised by EEPC in the last three years, beginning from 2001. The others for this fiscal are planned to be held in January and March 2005 in Delhi and Mumbai.
Some of the Indian companies, which participated, are Atlas Cycles, PEC Ltd, Bajaj International & Bajaj Temp, Tata International, HMT International, JK Files & Tools, Taparia Tools, Sundaram Clayton, Usha Martin, Polar Industries and Marlboro Engineering. The items mainly included auto components, utensils, agri-machinery, including farm implements like tractors and spare parts for pumps, and textile machinery. Explaining the objectives behind such BSMs, he said the Indian Missions abroad should take the identification of buyers for participation in such meets more seriously.
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