The India Engineering Outsourcing Show (IESS) kicks off here tomorrow with participation from top global companies like Swiss giant ABB, US powerhouse Cummins and Toshiba, aiming to explore avenues for outsourcing their businesses to Indian firms.
Minister of State for Commerce and Industry E M S Natchiappan will inaugurate the three-day event that will provide a business platform to 50 international corporates and 300 Indian engineering firms.
"IESS will provide a major platform not only to Indian manufacturing exporters but also to the global companies to explore possibilities of further integrating their value chain by tying up with vendors from across the world," EEPC India Chairman Anupam Shah said.
Business orders worth Rs 2,000 crore are likely to be firmed on the spot while preliminary enquiries and commercial negotiations may continue resulting into more business orders at the IESS this year, according to the event's organiser EEPC India.
Africa's largest economic community COMESA is also fielding a strong sourcing team of 87 members. Besides, over 500 buyers from these countries have already confirmed their participation.
The engineering sector is among the top two contributors to the overall Indian export basket with total shipments of USD 56 billion in the previous fiscal, EEPC India said.
States like Bihar, Karnataka, Tamil Nadu, Punjab and Jharkhand are also participating in the IESS this year.
