According to India’s Commerce & Industry Ministry statement, India’s engineering exports have reached a record high of USD 76 billion in 2017-18 and USD 87 billion in 2018-19.
Speaking at the Engineering Export Promotion Awards (EEPC) awards ceremony, Commerce and Industry and Minister of State Independent Charge of Civil Aviation and Housing and Urban Affairs, Hardeep Singh Puri on 10th December hoped that by next year (2020) India’s engineering exports will reach brand new milestone.
The minister has also congratulated the EEPC for reaching a record high exports of USD 76 billion in 2017-18 and USD 87 billion in 2018-19.
This year EEPC celebrates and completes 50 years of rewarding exporters and 111 winners were given national awards for 2017-18 across 8 categories in over 32 product panels.
This year, for the first time, Quality Control of India (QCI) has been invited to evaluate EEPC member companies and EEPC India-QCI Quality awards were given away to 7 winners.
The minister urged the engineering sector, that employs 40 lakh workers, to get abreast with global engineering standards and adopt new technology to upgrade their core efficiency and improve their competency and achieve cost competitiveness.
He exhorted the engineering industries to establish smart factories for optimum use of land, labour and capital.
He also said that since 55% of EEPC members are MSMEs, they must also strategize to upgrade their Technology and production profile in order to enter the global value chain.
The Minister further urged exporters to tap Emerging Markets like Africa, the CIS countries, countries of Latin America and the GCC and Mexico and thereby ensure that by 2025 India’s engineering exports will reach a target of USD 200 billion.
