Financial Daily from THE HINDU group of publications
Friday, Dec 17, 2004

Cross Currency

Group Sites

Industry & Economy - Engineering

Engineering export promotion body raises target this fiscal

Our Bureau

Kolkata , Dec. 16

THE Engineering Export Promotion Council (EEPC), encouraged by the buoyant trend witnessed in engineering exports during the October-November period, has revised upwards its export target for 2004-05, from the earlier $12 billion to $12.75 billion.

Talking to Business Line here today, Mr Rakesh Shah, Chairman of the council, said the export target was discussed at the recent meeting all export promotion councils and commodity boards had with the Union Commerce Minister, Mr Kamal Nath, in New Delhi.

He said EEPC, having exceeded expectations in terms of growth, was confident of doing even better, and had readily accepted the Minister's suggestion to increase the target. As per the council's own internal calculations, $12.75 billion was easily achievable, it is pointed out.

Mr Shah said that the engineering sector has already clocked a 38 per cent growth in dollar terms for the April-August 2004 period, far surpassing the general growth of overall exports, which was around 24 per cent as in November 2004.

According to him , the share of the engineering sector in the overall export target of the country now stood at 17 per cent, which was also 1 per cent higher than last in view of the target revision. Mr Shah sounded optimistic that with adequate infrastructure support, engineering exports could not only double its performance during the next five years, but also surpass the same in line with the government's expectations of achieving a 1.5 per cent share of global trade during this year. He said a steady growth in engineering exports have been maintained during the last five years.

More Stories on : Engineering | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Dumping duty on acrylic fibre imports from Belarus

Prices of essential commodities have not increased: AP Minister
Engineering export promotion body raises target this fiscal
India, Czech call for greater bilateral trade
Centre asks cos to beef up trade with African countries
Input output norms for 28 new export items
FICCI survey calls for de-risking oil needs to mitigate price rise impact
Centre's assurance on Mangalore SEZ
Will generic drugs from India dry up?
Towards energy conservation and rational pricing
`Kudankulam N-project to be ready by 2007'
Minister urges power distribution cos to adopt global best practices
States' share in divisible tax pool may be hiked to 30.5 pc — 12th Finance Commission to submit report today
More taxes to come under VAT net
VAT panel to initiate national-level talks
No takers yet for textile cluster infrastructure scheme funds
Truck, bus tyre production dips marginally in Oct
Shortage of explosives may lead to cutback in coal production
Assocham sees 4 pc growth in FMCG sector during next fiscal
PM launches Prasar Bharati's DTH service
Call to focus on vocational training, not reservation
MMA students' convention from tomorrow
Industrialists lay stress on quality education
ACMA not too worried about Re rise
Altos launches gold accumulation programme
Hyderabad to host BioAsia meet in Feb
Disinvestment Dept `divested' of full-time Secretary — Sisodia to hold additional charge
Pickle project launched in TN
FAPCCI meet on reviving sick SSI units
New PGM for Hyderabad telecom dist

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line