web analytics
Impetus Logo

P: +91 98251 57868

E: info@impetix.com

+91 98251 57868

info@impetix.com

Banner

India’s engineering exports can reach target of USD 1 trillion by next year

Union Minister Mr. Hardeep Singh Puri, hoped that by next year India’s engineering exports will reach the target of USD 1 trillion. He gave away the Engineering Export Promotion Awards (EEPC) for the year 2017-2018 at a function in New Delhi.

Speaking on this occasion he congratulated the EEPC for reaching a record high exports of USD 76 billion in 2017-18 and USD 87 billion in 2018-19.

Hardeep Singh Puri congratulated EEPC for completing 50 years of rewarding exporters and also complemented 111 winners who received national awards. The MoS said that since fifty-five percent of EEPC members are MSMEs, they must also strategize to upgrade their technology and production profile in order to enter the global value chain.

Hardeep Singh Puri informed the gathering about all the measures taken by the Government of India and the Department of Commerce and the Directorate General of Foreign Trade (DGFT) to simplify, bring in greater transparency in the export procedures and enhanced credit and insurance to exporters. The DGFT has put in place a fully electronic refund module and an online filing and issuance of preferential certificate of origin. A web portal of industrial schemes of different Ministries of the Government of India is also available to the engineering industries and the NIRVIK scheme has been announced to ensure enhanced loan availability for exporters.

Minister of State Hardeep Singh Puri 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.

Chairman EEPC, Ravi Sehgal also addressed the gathering. On this occasion Additional Secretary, Department of Commerce, Bhupinder Singh Bhalla, representatives of industry and the award winners were present.

GET IN TOUCH WITH US

If you are positive about our products or services feel free to get in touch via your preffered method.Send your detailed inquiry, and One of our team member will contact you at earliest

LATEST NEWS

India can explore export opportunities in 19 agro-based commodities: FAO

India can explore export opportunities in 19 agro-based commodities that together have a global market of USD 97.6 billion, recent data from the Food and Agriculture Organisation of the United Nations shows. India’s…read more

30, Dec, 2019

In a big relief to exporters, SBI withdraws e-BRC charges

In what can be termed as a major relief to exporters, the State Bank of India (SBI) has decided to withdraw charges levied on the issuance of Bank Realisation Certificate (e-BRC) for the…read more

24, Dec, 2019

What Does 2020 have in store for Shipping : BIMCO

One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling trade-to-GDP ratio, according to BIMCO’s Chief Shipping Analyst…read more

21, Dec, 2019

CII identifies 18 emerging economies & 53 products to boost export

CII has identified 18 developing economies that hold the promise of sustained growth over the coming few decades based on current GDP levels and population indicators. These are: Brazil, Mexico, Indonesia, Turkey, Thailand,…read more

20, Dec, 2019

India aims to bring down logistics cost to below 10% of GDP : MoS

India aims to bring down logistics cost to below 10 per cent of the GDP from about 14 per cent at present to increase the competitiveness of the manufacturing sector, Som Prakash, Minister…read more

17, Dec, 2019

Commerce Minister (MoS) inaugurates FIEO’s 2nd Edition of LOGIX INDIA 2019

The Federation of Indian Export Organisations (FIEO) launched the “2nd LOGIX INDIA 2019”- International Buyer Seller Meet on December 12, 2019 at New Delhi with the active support from Ministry of Commerce &…read more

16, Dec, 2019

Commerce Minister highlights benefit of FTAs to Small Exporters

The Minister of Commerce and Industry, Piyush Goyal, recently informed the Parliament that Free Trade Agreements (FTAs) signed by India provide tariff concessions thereby giving opportunities for exports of products including those related…read more

14, Dec, 2019

Withdrawal of additional export benefit to hit shipments of farm, marine, engineering products

A DGFT notification has said the additional 2 per cent incentive under MEIS would lapse on December 31. The Government’s decision to withdraw by the year-end the additional 2 per cent incentive given…read more

13, Dec, 2019

India’s engineering exports can reach target of USD 1 trillion by next year

Union Minister Mr. Hardeep Singh Puri, hoped that by next year India’s engineering exports will reach the target of USD 1 trillion. He gave away the Engineering Export Promotion Awards (EEPC) for the…read more

13, Dec, 2019

Export benefits of additional 2% under MEIS to end Dec 31 : DGFT

Ahead of a new export incentive scheme – Remission of Duties or Taxes on Export Products (RoDTEP)-to be rolled out from next year, the Director General of Foreign Trade (DGFT) recently issued a…read more

11, Dec, 2019

© 2024 All Rights Reserved by Impetus Prolific

Designed & Developed by TechnoEmpire Systems

Quick Inquiry