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EEPC seeks relook at export strategy

Press Trust of India  |  Mumbai 

Engineering exporters' apex body Tuesday there was a need to rethink and redraw its strategy as the the marginal growth in overall merchandise exports has become a matter of grave concerc.

"Virtually no growth in overall merchandise exports and a sharp drop of more than three per cent in engineering goods' overseas shipments during December 2018 over the same month in 2017, is a matter of grave concern, signalling the tensions and the global slowdown have started biting the world trade," said.

He further said that the unfolding global situation comprises not only problems on account of tensions between and the US but other issues like uncertainty over out in the European markets.

"The situation certainly calls for a major rethink and redrawing of our strategy, amongst exporters, government and the RBI as to how to plug the loose ends and reduce the cost of shipments along with easing of procedures," Sehgal added. ***************************************** MMRC appoints Kalindee-ASIS JV for AFC for metro 3 *

(MMRC), which is implementing Colaba-Bandra-metro 3 project Tuesday said it has awarded the contract for automatic fare collection to a consortium of Turkey-based ve Billisim Sistemleri and Kalindee Rail Nirman, a division of Texmaco Rail & Engineering.

The work consists of design, manufacture, supply, installation, testing and commissioning of the system at all the 27 stations of the corridor.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 15 2019. 19:50 IST