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Engineering exports up 29% in Apr-Nov

Engineering exports increased by 29.28 per cent between April-November 2000 in dollar terms over the same period last year.

Engineering exports in the first eight months of the current financial year were $3.25 billion compared to $2.514 billion in the corresponding period last year.

"going by the trend, the target of $5.3 billion set by the engineering export promotion council will be surpassed," EEPC chairman J S Bhasin said in a statement.

He said the council hoped for doubling the engineering exports to $10 billion by 2005-06 for which a detailed and comprehensive 'medium-term export strategy report' has already been prepared.

However, Bhasin regretted that the hurdles in terms of implementation of policy measures still remained unresolved.

"The present condition necessitates increased thrust for value-added items, especially capital goods and machinery sector, accounting for 30 per cent of the engineering exports,'' Bhasin said.

This sector, due to complexities in the policy, is unable to take full advantage of the existing schemes under the Exim Policy.

UNI

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