Top Indian exporting companies to experience larger platforms for their products
Rise in the engineering exports to Latin America has paved its way to an international scenario. Top 80 Indian exporting companies have planned to showcase their hi-tech product designs at an international convention INDEE at Peru starting from August 5, 2015. The two-day Exhibition organised by EEPC will witness the participation of both small and medium companies from India, which are eyeing the Latin American market for reaching out to the new export destination leaving behind the weak global demand. During April- May 2015, the total engineering export dropped to 5.8%, however, the shipment to Latin American markets have increased by 10% to $550 million from $459 million in the corresponding month. INDEE- Peru is a part of the international convention center where over 1200 global firms would partake giving the Indian exporters the opportunity to hit new business but also to build high relationship with Latin America and also with others who are on the lines of the same business. Peru is one among the self- directing economies in Latin America. Their average customs duty ranges to 1.37%. The bilateral trades have also shown an enormous growing tendencies from $80 million in 2003 to $1,317 million in 2013. Apart from the engineering products, the Indian exports to Peru also include automobiles, motorcycles and other vehicles along with electric power transmission etc. In all of the said above cases, there have a significant rise of 30% during the previous year.
July 31, 2015 | 7:37 pm IST.
to success.