EEPC to participate in international technology fair in Germany
Government is encouraging members of the engineering export promotion council (EEPC) with subsidy to put up their stalls in Hannover Messe, an international industrial technology fair, to be held in Germany in April, this year.
By Niranjana Ramesh, ET Bureau |
CHENNAI: In a bid to give push to the sub-contracting business in industrial engineering in India, the Government is encouraging members of the engineering export promotion council (EEPC) with subsidy to put up their stalls in Hannover Messe, an international industrial technology fair, to be held in Germany in April, this year.
Last year, the event saw participation from 4800 small and medium enterprises in the industrial engineering sector worldwide. This year, it expects over 6000 participants. China, Taiwan, Japan and some European nations form the majority of participation, as buyers as well as sub-contractors.
"Sub-contracting comprises nearly 70% of manufacturing in the automobile sector, about 50% in industrial manufacturing, and a little less than 50% in the energy sector," said Hannover fairs India MD S J Patil. "India's share in the global sub-contract market is only 1.5% and there's tremendous potential to improve that."
Indian subcontractors have been concentrating on the American and East Asian markets, where demand is reducing presently, according to EEPC regional director M Ganesan. "So, our members are keen on exploring new markets in Europe for their products."
The regular fee for a participant in the fair is Euro 200 per sq. m., whereas EEPC members receive a package including a 9 sq. m stall space, travel, accommodation, marketing, B2B co-ordination etc for Euro 250 per sq.m, through the central subsidy. "We are also trying to co-ordinate with state governments to offer a further 50% subsidy," Mr.Ganesan said.
About 50 EEPC members are expected to be on-board to Germany this April, while 120 independent sub-contracts have already registered for the fair. The fair generated enquiries worth USD 8.5 million for the Indian pavillion, when it was held in April 2008. The focus of the fair this year will be on manufacturing for renewable energy plants.
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