40 pc growth in engg exports likely

New Delhi: The country's engineering exports were set to grow to $24 billion in the current year, clocking a growth of 40 per cent on top of the export earnings of $20 billion achieved in 2005-06, the Union Commerce and Industry Minister, Mr Kamal Nath, said here on Tuesday.

Speaking at the golden jubilee celebrations of the Engineering Export Promotion Council, Mr Nath lauded the efforts of the engineering sector. He said the engineering process outsourcing (EPO) services from India had the potential to exceed $40 billion by 2020, raising the country's share in the EPO market from the extant 12 per cent to 30 per cent. The President of India, Mr A.P.J. Abdul Kalam, inaugurated the celebrations marking 50 years of the council.