Engineering exporters eye Middle East to offset global slump

Owing to severe slowdown in the global markets, domestic engineering exporters are now aggressively focusing on Middle Eastern countries.
"Due to a severe slowdown in the global markets, the engineering exporters are going all-out for a hard-sell in the Middle East countries by aggressive participation in the high-tech industrial fairs," EEPC India Executive Director and Secretary Bhaskar Sarkar said in a statement issued here today.
Under the aegis of EEPC India and with the help of the Commerce Ministry, as many as 50 top engineering exporting firms are participating in Jordan's flagship 'JIMEX 2016' event that brings under one roof about 200 global exhibitors representing more than 550 international trademarks.

While the brand India exercise will take place between May 16-19 during JIMEX, EEPC India has already participated in the UAE industrial fair held earlier this month.
"While the Middle East market, including the UAE and Jordan, is key for the Indian engineering exporters, we have witnessed quite a fall in the shipments in line with the falling trend in rest of the world.
"By some aggressive marketing strategy and with the help of the government under the Market Access Initiative (MAI), we want to reverse this trend," he said.

Against the exports of USD 396 million in 2014, engineering exports from India to Jordan fell sharply to USD 105 million under the impact of a steep fall in the commodity prices. Likewise, shipments dropped to USD 5.1 billion in 2014 from USD 6.4 billion to the all-important Middle Eastern market of UAE.

Sarkar further said a sharp drop in crude oil prices and the likelihood of the softening trend continuing would bring about a structural change in the Middle Eastern economies, a development full of opportunities for Indian engineering sector.
"We should also rope in the investors from the Middle East in our Make in India programme for common goals," he added.
The engineering exports to the region comprise segments like industrial machinery, automation, energy, safety and security and renewable energy.