Hon’ble Minister of Commerce and Industry, Shri Piyush Goyal will be addressing the project exporters in a summit on ‘Enhancing Global Opportunities for Indian Project Exporters’, on May 05, 2022, in New Delhi. The Summit will bring together national and international stakeholders to facilitate discussions on the current scenario of project exports, the challenges faced by exporters, especially in the aftermath of the pandemic, and the opportunities arising due to the pandemic-induced changes to business models and developmental priorities.
Project exports have received renewed focus from the Government. The Department of Commerce, in September 2021, had approved infusion of ₹ 1,650 crore to the National Export Insurance Account (NEIA) Trust. This would enable NEIA to support project exports worth ₹33,000 Crore at full capacity utilization and lead to domestic manufacturing to the tune of nearly ₹25,000 Crore. Earlier, under Atmanirbhar Bharat 3.0, the GOI had announced a boost of Rs. 3,000 Crore to Exim Bank for promoting project exports under Indian Development and Economic Assistance Scheme.
The Summit will witness participation from Indian project exporters, the Government of India, representatives from foreign diplomatic offices in India, multilateral financing institutions, credit insurance agencies, export credit agencies, and other development financing institutions. Two research publications of contemporary relevance, “Project Exports from India: Tapping Potential Amid Changing Dynamics”, and “India’s Engagements in Free Trade Agreements: Looking Ahead” would also be released during the Summit.
For bolstering domestic capacities for project exports through its BC-NEIA programme, India Exim Bank would also be signing two agreements during the Summit—one with the Govt. of Maldives for design and construction of police stations, accommodations, and a custodial facility in Maldives, and another with the Govt. of Madagascar for a food self-sufficiency project through supply of modern tractors, agricultural implements and related services for the farmers in Madagascar.