India''s engineering process outsourcing (EPO) market
is expected to touch $30 billion by 2015, the Engineering
Export Promotion Council (EEPC) said in a strategy paper.
study, `Growth of Engineering Process Outsourcing from
India'', released by the union minister of commerce and
industry, Kamal Nath, said the size of Indian EPO market,
which is currently a little over $3 billion, will grow
10-fold to $30 billion by the year 2015.
demand for India engineering products has grown at 30-35
per cent from 2004 to 2006.
the global EPO market poised to grow to $110-140 billion
by 2015, India should corner at least $30 billion of
the market, the paper said.
chairman Rakesh Shah said that the engineering exports
from the country touched $26 billion in 2006-07.
he attributed this achievement to the outstanding performance
of engineering exporters, Shah also mentioned several
areas of concern in the engineering exports.
said while the duty entitlement passbook (DEPB) had
been extended till March 2008 the government was working
on an alternative duty neutralisation scheme to replace
the DEPB scheme, which would lapse next year.
urged the engineering exporters to use the focus market
scheme to their utmost advantage as the potential growth
for India''s engineering exports in focus markets especially
the Confederation of Independent States (CIS) was huge.
however, warned engineering exports of possible non-tariff
barriers, considering that average tariffs for industrial
products in all countries has been falling.
process has already begun for engineering products and
is likely to gain greater momentum as India''s share
in world exports increases in the coming years,"
said that the Doha Round of Trade Negotiations under
of the WTO is a good opportunity for India and other
developing countries to leverage such issues.