The engineering sector accounted for one-fourth of India’a exports of $422 billion last year. However, the focus in the future will be on smart engineering, according to L Satya Srinivas, Additional Secretary, Department of Commerce.
“Unless we capture new technology and innovate, it would not be easy to stay competitive. Technology will be key in the future. We need to innovate and lead with technology,” he said.
The Centre has come up with production incentives and steps to promote and help the MSME/ engineering sector.
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Essentially, Ease of Living, Ease of Doing Business and trade facilitation are the core principles of the government, he said at the International Engineering Sourcing Show that commenced on Thursday. The three-day event, organised by the Engineering Export Promotion Council (EEPC), offers a glimpse into India’s capability in hard core metal and metal-based engineering.
“The realignment in global trade has opened up opportunities for India. We need to cash in on those opportunities,” he said.
Tamil Nadu is hosting the event for the fifth time (four times in Chennai and once in Coimbatore).
The MSME sector will be one of the core areas of dialogue at the G20 meeting to be held in Mumbai later this month. For the first time, logistics will also be given greater focus, he said.
T.N. Anbarasan, Tamil Nadu Minister for MSME, said the State accounted for $16 billion of the $112 billion in engineering exports last year. Tamil Nadu is ranked second in engineering production in the country and is the third largest exporter of engineering goods.
The event would include global sourcing seminars, technology sessions, G20 sessions and 300 exhibitors.
Arun Kumar Garodia, Chairman, EEPC, India said, ”EEPC India, for decades, has played a lead role in building Brand India by organising exhibitions around the globe.”
Two knowledge papers by EEPC - India’s G20 Presidency; Priorities, Challenges and the way forward and India and G20; Scope for technology alliances - were released by the Minister on the occasion.
The second EEPC India Quality Awards in association with businessline were also presented in three categories – large, medium and small Industries.
The winners were:
BEML Ltd - Quality award for outstanding performance in the PSU category
Peekay Steel Castings Pvt Ltd - Platinum award under large enterprise category
Hindustan Syringes & Medical Devices Ltd - Gold award under large enterprise category
Super Auto Forge Pvt Ltd - Silver award under larger enterprise category
Connectwell Industries Pvt Ltd - Platinum award under medium enterprise category
JLC Electromet Pvt Ltd - Gold award under the medium enterprise category
Baumer Technologies India Pvt - Silver award in the medium enterprise category
Neogi Technologies and Research Pvt Ltd - Platinum award in the small enterprise category
HP Valves & Fittings India Pvt Ltd - Gold award in the small enterprise category
Melux Control Gears Pvt Ltd - Silver award in the small enterprise category