Engineering exports from the country is expected to reach $50 billion in the current financial year (April-March 2010-11), a senior commerce ministry official said today.
"Exports of engineering goods from India are likely to be over $50 billion in the current fiscal," Sumanta Chaudhuri, joint secretary in the ministry of commerce and Industry, said.
Delivering the keynote address at a buyer-seller meet at India Trade Promotion Organisation (IPTO) in New Delhi, he said, India is a major exporter of light and heavy engineering goods and has a well developed and diversified industrial machinery and capital base.
The buyer-seller meet was jointly organised by the Engineering Export Promotion Council (EEPC) India with the ministry of commerce and industry.
Over 40 delegates from the US, Canada, CIS, Asean and South Asian countries are participating in the buyer-seller meet. This is the second in the series of buyer-seller meetings organised by EEPC this year.
Engineering sector is the most important sector in India's global exports.