US$ 107 bn Engg Goods Exports Target Doable, says EEPC India Chairman

Exports have emerged as a powerful growth driver and increased policy push is set to further boost the sector. The fact that Prime Minister himself has directly engaged with the stakeholders in the exports sector underlines the priority accorded to it, said EEPC India Chairman Mr Mahesh Desai.

Many reform measures taken by the government in the last few years are converging towards making India a global manufacturing hub. Policy measures such as Production Linked Incentives (PLI) announced by the government for various sectors are moving in the right direction, he said.

"Engineering goods sector has the potential to become the lead contributor to the economic growth and job creation as India leaps ahead in the post-pandemic world. Most developed countries are working on "China Plus One" strategy and India very well fits into the scheme. The engineering goods sector could considerably gain from it with right policy support," said Mr Desai.

He hoped that the engineering goods sector would certainly achieve the US$107.25 billion target set for it in the current financial year.

Under Prime Minister Shri Narendra Modi's leadership the target is very much doable and we will strive towards achieving the US$ 400 billion mark in FY22, he noted.

"We are continuously looking to diversify our product portfolio and penetrate new markets. With the PM's reassuring words of support, the entire exporting community has been re-energised," said Mr Desai.

We appreciate the Rs 88,000 crore insurance cover provided by the government. As mentioned by Hon'ble PM, the engineering goods is one of the top export items from India and with the help of Missions abroad it can substantially increase its share. The idea to bring all stakeholders together and exhorting states to push exports would make a big and long-lasting difference in times to come, said the EEPC India Chairman.