UAE, Saudi Arabia, Mexico and Turkey turn out to be major buyers of Indian engineering goods

NEW DELHI : EEPC expects the l2th edition of the International Engineering Sourcing Show (IESS) to be held in Chennai between NoVernber 27 and 29,to attract over 300 delegates from over 40 countries

While the US remains the biggest buyer of Indian engineering goods, the UAE (with which India has a Free Trade Agreement), Saudi Arabia, Mexico and Turkey have turned out to be big customers, data released by the Engineering Export Promotion Council (EEPC) show.

UAE, export to which grew by 45 per cent in April-September, to reach $3.9 billion, is the second largest importer of Indian engineering products, after.the US ($q.: billion in the same period, W 6.2 per cent.)
Saudi Arabia took in $2.6 billion, growing 18.4 per cent, while Mexico did $1.9 billion, growing 19.5 per cent. A surprise bump-up came from Turkey, which bought engineering goods worth $1.66 billion Qry 14.4 per cent.) , ‘Near-shoring‘ point Adhip Mitra, Executive Director & Secretary, EEPC, told that Mexico had become a 1’near-shoring” point for many countries in Latin America. As for Turkey, Mitra said the company was doing very well economically, with a growing appetite for Indian goods.

Countries in Western Europe, to where shipments would have to go around the Cape of Good Hope because of the Red Sea disturbances, show a mixed trend. Exports to the Uf ($t.94 billion, uP 7 pu cent), France ($1.tS billion, 7 .4 per cent) and Gerrnany ($2.6 billion, zeropff cent) seemed to be unaffected.by the longer shipping route, other countries like Italy ($1.S billion, minus 24pet cent), The Netherlands ($9+O million, minus 8.9 per cent) and Belgium ($714 million, minus 12.5 per cent), showed a marked decline.

Exports to China and Japan were sharply up

$1.3 billion (9.3 per cent) and $1.15 billion (31 per cent), respectively. In South-East Asia, Indonesia and Malaysia declined ($1 billion, minus 31 pe cent) and($72ami11ion, minus 20.5 per cent), while Singapore ($1.96 billion, 15 per cent) and Vietnam ($698 million, 2l per cent) bought more.

IESS expected to be big draw Meanwhile, EEPC expects the 12 edition of the Interna$ional Engineering
Sourcing Show (IESS) to held in Chennai between November 27 and 29,to at a aqlover 300 delegates from over 40 countries, for sourcing from Indian’ companies who exhibit their products at the event.
Among the leading potential buyers areTataSteel, Jaguar Land Rover, Arcglor Mittal Nippon Steel and Coastal Qatar.
IESS XII will focus on four themes: subcontract India, innovation India, watteg India (energy and electrical) and industromech India (range of industrial machinery).

Source : Hindu Businessline