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Mr Pranab Mukherjee

Our Bureau

Kolkata, Aug 9 The Union Minister for External Affairs, Mr Pranab Mukherjee, has assured the engineering goods exporting community that the Union Government will consider required changes in law and also facilitate better co-ordination between ministries with to boost exports.

Responding to the issues raised by the Chairman of EEPC India — the new avatar of Engineering Export Promotion Council — Mr Rakesh Shah, in his welcome address at the ‘All India Awards for Export Excellence 2006-07’ here on Saturday, Mr Mukherjee said: “We require changes not only in law but also in mindset, culture and attitude.” He agreed that, in the present regime where export promotion had replaced import substitution, there was need for greater co-ordination between ministries at the Centre to facilitate higher export earnings.

Mr Mukherjee said the share of trade in the country’s GDP had gone up from 14 per cent in 1990-91 to 34 per cent in 2006-07. However, the need of the hour was to augment infrastructure and the Government was focused on the same, keeping in view growth of trade in the long term.

He said the Government was aware of the impact the appreciating rupee had on exporters and steps, such as export benefits and market intervention schemes, had been taken to mitigate the hardships faced by exporters. The Reserve Bank of India, too, had taken appropriate steps towards this end, he said. The Government has taken a few steps and will continue to do so in the days ahead, he added.

Earlier, in his welcome address Mr Shah, said engineering exports had gone up from $26.49 billion in 2006-07 to $33 billion in 2007-08 “despite problems on account of rupee appreciation”. In the first quarter of the current fiscal, too, engineering exports grew 24 per cent to $8.7 billion, up from $7.04 billion in the corresponding quarter of 2007-08.

Mr Shah called for greater co-ordination between economic ministries and the creation of conditions in the domestic market that “enhance competition and discourage monopolistic or oligopolistic tendencies”.

EEPC on Saturday changed its name to EEPC India and will now have a new logo. It will operate on a wide canvas and seeks to emerge as an engineering trade promotion council that caters to the needs of the entire Indian engineering industry.

About 90 engineering exporters received awards in the ceremony.

More Stories on : Engineering | Exports & Imports

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