PROJECT EXPORTS OF INDIA TOUCHES Rs.1434 CRORE

RUDY GIVES AWAY OCCI EXPORT AWARDS

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Project exports from India have touched a value of Rs.1434 crore during the year 2001-02 registering a growth of 5.4% over the previous year. Shri Rajiv Pratap Rudy, Minister of State for Commerce & Industry, informed this here today, while giving away the export awards of Overseas Construction Council of India (OCCI). With the increasing competition from countries like China & Korea, the need for strategic approach for export promotion in the construction industry is of paramount significance, he said. Shri Som Datt, Chairman, OCCI was present in the function along with representatives of the construction and consultancy industry.

Shri Rudy said that the economic reforms had only touched the fringes of the construction sector and stressed the need for using equipment oriented technology to make their presence felt in the sector. The Minister told that the government has already withdrawn customs duty for re-importation of equipment and machinery and had simplified various procedures for the benefit of exporters. He said that Indian companies had bid for over 100000 crore of overseas contracts with a 20% success rate and asked the representatives to be more aggressive in the overseas business. The Minister emphasised that the consultancy firms and construction companies must work in tandem jointly to secure international projects.

Voltas Ltd. got the highest award for maximum overseas contracts secured whereas Ircon International Ltd. secured highest awards in the categories of maximum turnover, maximum foreign exchange earned and maximum foreign business attempted.