Kolkata, Oct 3 (IANS) Engineering Export Promotion Council (EEPC) of India on Wednesday said it remained bullish on materialising the business enquiries worth about $100 million, received from its recently concluded exhibition in Columbia.
“Our exhibitors booked orders worth $3.3 million and potential business enquiries of nearly $98.5 million. These business enquiries are most likely to materialise,” EEPC India Chairman Ravi Sehgal said in his letter to Union Commerce and Industry Minister Suresh Prabhu.
India’s engineering exports to Colombia were $483 million in 2017-18 and the Council’s exhibitors have been able to garner nearly one fifth of last year’s exports during this exhibition itself during September 24-28.
Seventy-seven companies had participated in the exposition, held in Bogota, the capital of the South American country, under the EEPC India’s flagship series INDEE (40th edition), with support of the Commerce Ministry.
Underscoring the importance of the promising market in South America, as many as 30 participating small and medium enterprises have appointed agents for their products in Colombia.
Sharing his feedback from the event with the Commerce and Industry Minister, Sehgal said Indian engineering exporters learn from China to promote the exports of the entire chain of production.
“In 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 added.