Chennai: “Tamilnadu’s more than 50 per cent share in the regional engineering export pie and the region’s 23 per cent share of the national exports during 2016-17 and 17-18 manifest southern region’s key role in Indian engineering exports,” said Governor Banwarilal Purohit at the 41st EEPC India Southern Regional Awards held here.
Experts at the event that took place yesterday, stated that century ($100 billion) seems foreseeable by Indian engineering exports which reached an all-time high of $76.2 billion in 2017-18 and has registered a 7.5 per cent hike over the first eight months during the current fiscal.
EEPC India advocated Government’s Swachchta Mission and the ongoing 100 day MSME Abhiyan, which unveiled 12 key initiatives that will help the growth, expansion and facilitation of the sector.
The apex body is worried over ambiguity on continuation of generalised system of preferences (GSP) for Indian Imports to the US.
The GSP programme allows duty-free entry of 1,937 products worth $5.6 billion from India into the US, benefitting exporters of textiles, engineering, gems and jewellery and chemical products.
Chairman, EEPC India, Ravi Sehgal, in his address highlighted the possible phasing out of India’s export promotion schemes with India’s per capita Gross National Income (GNI) crossing $ 1,000 per annum and rise of trade protectionism in the developed countries as possible challenges impeding the growth of Indian overseas shipment in future.