An export hub in the making

An export hub in the making
An export hub in the making

The idea of India as an export hub has shown some promise in the last few months. Engineering exports to Israel on a high

India′s engineering exports to Israel have gone up by about 640 per cent, that is more than seven times in April 2017 on an annualised basis, official data by EEPC has revealed. The sharp jump in exports comes just ahead of Prime Minister Narendra Modi's impending visit to Israel in July. EEPC is the trade and investment promotion organisation under the Indian government′s Ministry of Commerce & Industry. "As against engineering exports of about $20 million in April 2016, the shipments of these goods have gone up to $146.42 million in April this fiscal," a release from EEPC India said. "Moreover, Israel ranks at 12th position among India′s engineering export destination and has figured prominently among the top 25 destinations," the release said. Bulk of the engineering exports to Israel for April were listed under the group titled ′ Ships, boats, floating structures and parts′, which brought in about $122 million,” it noted. T.S. Bhasin, chairman, EEPC, said that the Indian engineering industry can enhance its level of engagement with Israel in a number of high-tech areas like defence production, steel, automobile and auto components, aircraft components and ship-building and ship boats. Eicher Polaris plans exports

Eicher Polaris, which manufactures and markets personal utility vehicle 'Multix', said it plans to begin exporting the product to Nepal and Bangladesh this month. Following the rising demand for Multix since its launch in June 2015, the company is also increasing its footprint in cities across India with a larger number of dealerships. Pankaj Duney, Chief Executive and Managing Director of Eicher Polaris, said: “We have already shipped a few units to Nepal. The commercial sales in the Himalayan nation will begin from this week. “We also have orders from Bangladesh. Shipping will start from the second week of this month.” The company is also tapping into the central American market of Guatemala, Africa and Sri Lanka. Eicher Polaris is an equal joint venture set up in 2013 between Delhi-based Eicher Motors and US-based Polaris Industries Inc. The US firm also runs a separate company called Polaris India, which sells its all-terrain vehicles. Foxconn eyes exports from India

The world′s largest contract manufacturer, Foxconn, plans to begin exports to the Middle East and African countries from India the end of this year. The Taiwan-headquartered phone and electronics maker is stepping up an expansion of its manufacturing facility in Sri City, Andhra Pradesh, while scouting for more locations including Tirupati in the same state, besides states of Tamil Nadu, Maharashtra and Delhi NCR. Over the next year or so, Foxconn is aiming for its suppliers to set up base here so they can feed into the local production chain which it will create for exports, Indian media reports. Foxconn, which makes iPhones for Apple out of China, is also reportedly set to accelerate discussions with several component suppliers over next couple of months, now that the Indian government has assured protection to local manufacturing through basic customs duty of 10 per cent and created a roadmap for local production of components coupled with tax incentives and benefits. Foxconn has so far invested around $600 million in the India market.

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