January 22, 2014 9:22 PM

printer

Pak Businesses want their govt to reciprocate to India: E M S Natchiappan

Businesses in Pakistan want their government to reciprocate to India through non discriminatory trade regime, Minister of State for Commerce & Industry E M S Natchiappan said on Wednesday.Speaking after inaugurating the 3rd edition of India Engineering Sourcing Show -IESS in Mumbai, E M S Natchiappan said despite difficulties, India wants to have a closer relationship with Pakistan.In the last ministerial-level talks held earlier this month, the two countries had agreed to normalise their trade relations even if the exact nomenclature of the Most Favoured Nation -MFN is to be changed in the face of political opposition in Pakistan.Speaking about the global trade Natchippan said there is great potential for Indian firms to push up exports.With strong dollar making imports from India cost effective for global buyers, business orders worth over Rs 3,200 crore are set to be bagged by exporters at the IESS which opened on Wednesday.It received a significant participation of manufacturing firms from the United States, Germany and several other countries from Asia and Africa.Natchiappan said the government of India has earmarked an annual outlay of Rs 300 crore for promoting Brand India through different schemes like the Market Access Initiatives. The Minister also said that to promote the strength of the Indian Engineering industry, the IESS will be held in different parts of the country every year.Natchiappan also unveiled the new logo of Indian Engineering Brand in the presence of over 1000 delegates and 500 exhibitiors.Natchiappan also hoped that with the operationalization of Delhi-Mumbai Industrial Corridor, Amritsar -Kolkata Industrial Corridor and the proposed Bangalore – Mumbai corridor, manufacturing activity will get the required boost to improve its share in the GDP.The Union Minister added that the government will exceed the engineering exports target of USD 62 billion in the current fiscal.

Most Read
View All arrow-right

No posts found.