Engineering exporters receive business enquiries worth $100 million at Colombian expo

Engineering exporters received business orders and enquiries worth around USD 100 million at a five-day exhibition in Colombia held during September 24-28, exporters' body EEPC India said Wednesday.

The engineering exporters' body said its exhibitors booked orders worth USD 3.3 million and received business enquiries of nearly USD USD 98.5 million at the expo.

The exhibition was held under EEPC India's flagship series INDEE (40th edition), with the support of the Commerce Ministry.

"India's engineering exports to Colombia were USD 483 million in 2017-18 and our exhibitors have been able to garner nearly one-fifth of last year's exports during this exhibition itself between September 24 and September 28. These business enquiries are most likely to materialise," EEPC India Chairman Ravi Sehgal said in a letter to Commerce and Industry Minister Suresh Prabhu.

However, Sehgal pointed out that India should learn from China on how to promote the exports of the entire chain of production.

"In the case of engineering exports, for example, the Chinese do not encourage primary steel exports and, in fact, such steel is provided through PSUs which are often selling steel at a loss.

"Thus, they are able to circumvent the WTO's Article of Subsidies and Countervailing Measures and can export the entire chain of value-added engineering products," he said.

(With inputs from agencies.)