New Delhi – In an endeavor to pave the way for Indian engineering firms to actively participate in global projects, Commerce and Industry Minister Piyush Goyal has issued a compelling directive to the Services Export Promotion Council. Goyal has urged them to embark on an extensive research study focusing on international practices that have, thus far, placed obstacles in the path of Indian engineering companies’ global involvement.
The primary objective behind this research is to identify discriminatory practices abroad that inhibit Indian engineering firms from accessing global projects. Minister Goyal has underlined that the government is prepared to take reciprocal actions based on the findings of this study. The ultimate aim is to create a level playing field for Indian engineers and businesses operating on the international stage.
Minister Goyal articulated his vision during his keynote address at the ‘Global Services Export Conclave on Design, Engineering, Construction, R&D, and Environmental Services: Sustainable Energy, Transportation, and Infrastructure’ held in New Delhi.
Additionally, Minister Goyal has set an ambitious target for the engineering community. He has urged them to strive towards achieving a remarkable USD 100 billion export benchmark in engineering services, design, construction, research and development (R&D) by the year 2030. This target reflects the government’s commitment to fostering growth and innovation within the Indian engineering sector.
In his address, Minister Goyal emphasized the importance of Indian companies expanding their horizons globally. He encouraged them to explore untapped markets and harness the vast pool of STEM (Science, Technology, Engineering, and Mathematics) graduates in India to establish themselves as prominent global entities within their respective domains.
Minister Goyal also acknowledged that India has not fully leveraged Free Trade Agreements (FTAs) as effectively as other nations. He has urged the “Services Export Promotion Council (SEPC) and the Institution of Engineers (India) (IEI) to conduct a study on international practices that hinder the active participation of Indian engineering firms in global projects.”
This directive underscores the government’s commitment to facilitating the international growth and success of Indian engineering enterprises while promoting equitable opportunities on the global stage.
By PTI
