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Rs 1-cr loss in engg exports costs 44 jobs: EEPC survey
Our Bureau
Kolkata, March 4 A recent survey by the Engineering Export Promotion Council (EEPC) has shown that Rs 1 crore loss in engineering exports leads to job losses for 44 workers.
Talking to Business Line at the sidelines of the recent 24th EEPC Eastern Region Awards for Export Excellence ( for 2005-06) here, Mr Rakesh Shah, national chairman of the council, said engineering exports today accounts for over 8 per cent of total employment in the export sector.
He said some 60 per cent of the engineering sector was served by the MSME (Micro and Small & Medium Enterprise) units, which account for nearly 39 per cent of the manufacturing output and around 33 per cent of total exports of the country. Pointing out that the MSME sector has consistently registered higher growth compared to the overall industrial sector, he said MSMEs possessed employment potential at low capital cost. Labour intensity in the sector is estimated to be almost four times that in larger enterprises.
Suggesting that an ideal “enabling environment’, as in 2005-06, can substantially boost export capability, particularly of MSME units, he said the policy makers were yet to fully appreciate the need to create a domestic environment that can enable the MSME units to meet the challenges of the international trading arena.
Explaining, he said the exchange rate policy followed by India in recent times has been such that the forex rate has not only been not beneficial to Indian exporters, but has also had a sharp negative trend on domestic industrial production. He felt the rupee appreciation of nearly 15 per cent during the fiscal 2007-08, has been more beneficial to competitors like China.
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