Business Daily from THE HINDU group of publications
Thursday, January 17, 2008
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Business Daily from THE HINDU group of publications Thursday, January 17, 2008 |
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News Update as at 18.00 hrs (IST)
Industry EEPC export target intact at $30 billion KOLKATA: The Engineering Export Promotion Council (EEPC) is keeping its engineering goods export target at $30 billion for the current financial year despite the sudden jerk from Rupee appreciation. "We have kept the export target at $30 billion and we are confident of achieving it despite Rupee appreciation," Mr Rakesh Shah, Chairman of EEPC said on Thursday on the sidelines of a series of reverse buyer-seller meets. During April-October, India has exported $17 billion worth of engineering goods. About the same period, the Indian rupee had appreciated by over 9 per cent. If EEPC was able to touch the target, engineering export would grow by 10-12 per cent from $27.11 billion registered in 2006-07. The sector expanded by 33.28 per cent in exports earning over 2005-06 recording $20.34 billion. Meanwhile, Mr Shah said some 120 foreign delegates would meet over 1,000 Indian engineering exporters in eight cities from February 25 to March 6. "There will be delegates from Africa, ASEAN, CIS, Latin America, US and Canada. The reverse buyer-seller meet will help small exporters the most at a time when the Rupee appreciation has hurt exporters by 12 per cent," Mr Shah said. - PTI
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