New Delhi: Minister of State (MoS) for Commerce & Industry, Hardeep Singh Puri gave away the Engineering Export Promotion Council (EEPC) Awards for the year 2017-2018 at a function in New Delhi yesterday. Speaking on the occasion, Puri congratulated the EEPC for reaching record high exports of $76 billion in 2017-18 and $87 billion in 2018-19. He expressed hope that by next year, India’s engineering exports will reach the target of $1 trillion.
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) was invited to evaluate EEPC member companies and EEPC India-QCI Quality awards were given away to 7 winners.
Hardeep Singh Puri congratulated EEPC for completing 50 years of rewarding exporters and also complimented the 111 winners who received the national awards. Puri urged the engineering sector, that employs 40 lakh workers, to stay abreast with global engineering standards and adopt new technologies to upgrade their core efficiency and improve their competency and achieve cost competitiveness. He also exhorted the engineering industries to establish smart factories for optimum use of land, labour and capital.
The MoS further said that since 55% of EEPC members are micro, small and medium enterprises (MSMEs), they must also strategize to upgrade their technology and production profile in order to enter the global value chain.
Puri informed the gathering of measures taken by the Government of India, the Department of Commerce, and the Directorate General of Foreign Trade (DGFT) to simplify and bring in greater transparency in the export procedures, and enhance 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, said Puri, adding that a web portal of industrial schemes of different Ministries of the Government of India is also available to the engineering industries, and that the Niryat Rin Vikas Yojana (NIRVIK) scheme has been announced to ensure enhanced loan availability for exporters.
MoS 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 India’s engineering exports will reach a target of $200 billion by 2025.
Chairman EEPC, Ravi Sehgal also addressed the gathering, while Additional Secretary, Department of Commerce, Bhupinder Singh Bhalla, and representatives of industry were also present.
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