Engineering exports may touch $80 bn in 2011-12

NEW DELHI: Engineering exports are likely to touch USD 80 billion this fiscal, a rise of over 30 per cent over the last year, on account of healthy demand in the new markets like Latin America and Africa.

Engineering Export Promotion Council (EEPC) Chairman Aman Chadha, however, said that the coming six months will be difficult for exporters due to the uncertain economic conditions in the US and Europe.

Both these regions accounts for over 40 per cent of the country's engineering exports.

"Exporters are getting good response from new markets like Africa and Latin America. We may touch USD 80 billion by the end of this fiscal," Chadha said.

Last fiscal, the sector's shipment grew by 84.7 per cent to USD 60 billion over the same period previous year.

During April-August this fiscal, engineering exports stood at about USD 40 billion.

To attract international buyers, EEPC in support with Commerce Ministry is organising an India Show in Toronto.

Over 150 Indian engineering companies will participate in the four-day show, which will start from October 17.

"It will be the biggest show of Indian engineering companies in Canada and a major effort to promote 'Brand India' in the North American continent," he said.

Indian companies including that of Tata Motors, Tata Steel, Heavy Engineering Corporation, Bajaj International and Mahindra Reva Electric Vehicles will participate in the show.

Commerce Secretary Rahul Khullar will lead the Indian delegation to the show.