Engineering exports likely to see a new high this financial year: Teaotia
The Dollar Business Bureau Commerce Secretary Rita Teaotia said on Thursday that engineering exports from India, which have already on a healthy growth trajectory, are likely to witness a ‘new high’ in the ongoing fiscal. Exports from the engineering sector have reached $62 billion, recording a growth of around 22% during the period April-January of 2017-18. “We are confident that, the exports will see a new high this financial year,” Teaotia said, while speaking at the inauguration of India Engineering Sourcing Show (IESS) organised by Engineering Export Promotion Council (EEPC) of India in Chennai. Commerce Secretary said the shipments to developed nations are increasing at a rapid pace. Exports to Europe and North America account for around 40% of the overall exports from engineering sector. The initiatives ...
India-Russia expand cooperation in civil aviation
The Dollar Business Bureau Russia's Trade Minister indicated acceleration of India-Russia cooperation in Aviation as he announced that Russia is open to manufacture components for its Sukhoi super jet in India. He said that the North Asian nation was also in talks with Mahindra and Mahindra regarding the MC 21 aircraft, which is to have its first flight soon. As he revealed that interiors for Sukhoi super jet are being manufactured by a unit of Mahindra, India's top aerospace company, he also said that Mahindra could take part in the MC 21 project, for production of components as well as interiors. On the sidelines of International Engineering Sourcing Show (IESS) in Chennai, bilateral talks were held between Russian Trade and Industry Minister Denis Manturov, and Indian Commerce Minister Nirmala Sitaraman. During these talks, both the countries agreed to expand their cooperation ...
India's engineering exports to France up 30.27% in October
The Dollar Business Bureau Shipments of the automobile segments cloaked the maximum growth, up 62.34% to $8.59 million in October 2015 from $5.29 million in October 2014. India’s engineering exports to France grew by 30.27% in October even though the sector’s overall shipments fell by 11.62% during the same period, an EEPC study has said. Last month, India’s engineering exports to France went up to $91.54 million from $70.27 a year ago. Despite a negative trend in India’s exports of engineering goods during September, August and July, shipments to France remained positive at about 6% to $622.24 million during April-October 2014-15 from last year’s $587.34 million. “Data from France for October was very positive. However, with the unfortunate and condemnable terror attacks, ...
SAARC eyes India as major source of engineering products
The Dollar Business Bureau Around 54 European firms from the UK (15) and Germany are said to be building their networks with their Indian counterparts at the IESS SAARC region seems to be increasingly looking at India for meeting its engineering product requirements, said an engineering exports body. Various engineering firms from the SAARC countries present at the India Engineering Sourcing Show (IESS) 2015 - the flagship event of the Engineering Export Promotion Council (EEPC) and the Commerce Ministry – are looking at India as a major source of engineering products including those relating to high technology such as aircraft parts, automobile, and energy saving devices, EEPC said in a release. Speaking at the inaugural session, Ravi Capoor, Joint Secretary ...
