Engineering Exports To Touch USD 120 Bn By 2015 .

“The engineering exports are already touching USD 40 billion and I expect that it should be nearly USD 50 billion this year. We have remained mindful of the fact that we need to align government policies with the ambitious target of tripling India’s engineering exports of USD 120 billion by 2015”, the Minister said.

He said this while inaugurating the 7th edition of Eco-Products International Fair (EPIF 2011) and 19th International Engineering Trade Fair (IETF) here.

Sharma also informed that India is making a major contribution in the growth of manufacturing and high-value engineering and added that this decade will be particularly significant in the development and growth of this sector even as the global focus shifts on clean energy technologies and processes.

He said India is today 5th largest wind energy producer in the world and 8th in terms of investments made in clean energy technologies.

He said globally, investments in clean energy have growth by as much as 230 percent in the last four years and are touching USD 200 billion.

“Within the manufacturing sector, we need to pay special focus to the development of green technologies which will be one of the dominant themes over the next 2 decades, providing both challenges of adaptation and opportunities of growth for manufacturing."

"The market for green products is estimated at nearly USD 200 billion and is growing at 15 percent every year”, he said.

The inaugural session was also addressed by Sheikha Lubna Bint Al Qasimi, Minister of Foreign Trade, United Arab Emirates.

The three-day 10-12 Feb EPIF 2011 is being jointly organized by the Department of Industrial Policy and Promotion, Ministry of Commerce & Industry, Government of India; Asian Productivity Organisation (APO) –Tokyo; National Productivity Council (NPC) – India and Confederation of Indian Industry (CII).

Source : indiablooms.com