Unfazed by global
headwinds and forces of protectionism in some of the leading economies,
India is all set to showcase its technological and engineering prowess
to top international firms at the 6th edition of the International
Engineering Sourcing Show(IESS) at Chennai,expecting significant
business deals during the three-day event, beginning March 16.
IESS VI was inaugurated in a gala ceremony on 16th March 2017 in Chennai
by Smt. Nirmala Sitharaman, Minister of Commerce & Industry (Independent
Charge), Government of India; Shri Denis Manturov, Minister of Trade &
Industry, Russian Federation; Shri Girish Shankar, Secretary, Department
of Heavy Industry Government of India,Shri Mangat Ram Sharma, Principal
Secretary, Government of Tamil Nadu, Shri T S Bhasin, Chairman, EEPC
India and other senior officials from the Ministry of Commerce & EEPC
Prior to the inauguration, SmtSitharaman and Mr. Manturov had a cordial
meeting where a host of bilateral issues were discussed. They agreed
that there is enormous potential to enhance the bilateral trade, which
is presently US$ 6.62 billion. They discussed the early
operationalization of International North South Transport Corridor (INSTC)
that would cut the time and cost for transportation of goods between
both countries. They also deliberated upon other measures to enhance the
trade ties, including the proposed FTA between India and the Eurasian
Economic Union, which includes Russia, Belarus, Kazakhstan, Armenia and
Kyrgyzstan. The need to finalise a revised Bilateral Investment Treaty
was also noted. Smt. Sitharaman also invited Russia to be the ‘Partner
Country’ in India International Jewellery Show 2017 scheduled to be held
in July 2017 in Mumbai and Advantage Healthcare India scheduled to be
held in October 2017 in Delhi / Mumbai.
According to EEPC India, Russia coming forward as the Partner Country in
this event is a testimony to the stature achieved by IESS. India has a
long standing partnership with Russia in engineering sector. A large 120
member delegation from Russia is exhibiting their technology and
products at the IESS 2017.
As many as 400 top global exhibitors and over 500 foreign delegates are
participating in this flagship engineering eventwhich is built around
the theme – “Smart Tech for Smart Engineering”, Apart from Union
Ministry of Commerce and Industry, the show is also supported by Union
Ministry of Micro Small and Medium Enterprises, Department of Heavy
Industry and Department of Scientific and Industrial Research. The event
has Flanders as the Focus Region and SIDBI as MSME Solutions Partner.
This time, IESS is being held at Chennai, the nerve-centre of south
India with Tamil Nadu as the host state of the event.
Besides Russia, delegates from USA, UK, Germany, UAE, Brazil, South
Africa, Algeria, Benin, Botswana, Egypt, Ethiopia, Ghana, Kenya,Namibia,
Uganda, Vietnam, Bangladesh, Sri Lanka, Ukraine, Uzbekistan and Nepal
are also visiting IESS, which has emerged as one of the most prestigious
engineering sourcing shows in the country.
On this occasion, EEPC India Chairman said while the engineering exports
have started growing again, the growth has come about on a low base
which had formed because of sluggish performance in the last few years.
“However, despite concerns of protectionism from the USA, the focus of
the Trump Administration on big investment on infrastructure projects
would boost the global demand for the engineering products. So, instead
of seeing it as a challenge, Indian exporters must look the unfolding
scenario as an opportunity in the USA”.
This edition of IESS has exclusive Technology and Innovation Pavilions
with representations from BARC, IIT Mumbai, IIT Madras, FCRI (Fluid
Control Research Institute), ARCI (International Advanced Research
Centre for Powder Metallurgy and New Materials), CMTI (Central
Manufacturing Technology Institute) and MSME Tools Room.
Various activities have been planned during the three-day Show including
India-Russia Business Forum, Global Investment Conference, Vendor
Development Seminar, by Indian PSUs, Global Sourcing Meets by Siemens,
SCHWING Stetter India Pvt Ltd,Yanmar, Kubota Corporation, Sessions on
Accreditation, competetivenes of MSMEs, Technology Collaborations,
Industrial Design Forums etc.
IESS, across its five previous editions, has left an indelible footprint
of success. The fifth edition of IESS, held during 24-26 November 2015
inMumbai attracted 450 delegates from 55 countries, in Asia, Africa,
Europe, North America and Latin America and 10,000 professional
India's engineering exports are likely to reach USD 60+ billion in the
fiscal 2016-17, on the back of revival of demand in the USA and for
select products like iron. For the April-January period of ten months of
the current fiscal, the engineering exports have touched a figure of USD
50.87 billion, exceeding the total shipments of USD 49 billion in the
entire financial year of 2015-16. For January, 2017 engineering exports
aggregated USD 5.29 billion, showing an increase of over 12 % over the
same month last fiscal.