Currently, engineering accounts for over 25 per cent of the country’s export basket.
“Our objective is to move up the ladder and be a part of the global value chain and production networks, particularly, in light of the renewed thrust by the government to sign free trade agreements (FTAs). It is understood that India is in touch with few more countries other than Australia, UK, EU, and UAE to have FTAs. The developments are quite heartening,” Desai said.
EEPC India has opened two Technology Centres in Bengaluru and Kolkata and holding regular programmes on various technology developments and modules catering to different industries, EEPC chairman said government intervention is required to boost exports.
“We are collecting the problems faced by our exporters and other engineering companies and taking up with the appropriate authorities, including Commerce Ministry, DGFT, CBIC, BIS, Ministry of Steel and Ministry of MSME among others,” he said.
Engineering Exports during the period of April-September 2021 is about USD 52.34 billion which is a growth of 60 per cent over April-September 2020 (USD 32.72 billion) and 37 per cent growth over April-Sept 2019 (USD 38.26 billion).
“Annualising this means that engineering goods exports will be around USD 105 billion in 2021-22 and close to the target set for engineering,” Desai said.