NEW DELHI: Union Commerce and Industry Minister Kamal Nath on Friday said India was poised to become the hub of engineering process outsourcing (EPO), with the size of the Indian EPO market likely to touch $30 billion by the year 2015 from the current size of around $3 billion.

Quoting a strategy paper on "Growth of engineering process outsourcing from India,'' Mr. Kamal Nath said the estimated demand for EPO to India was growing at 30-35 per cent annually since 2004-06. With the global EPO market growing to $110-140 billion by 2015, India, due to its technological expertise, would benefit from it, the Minister said at the Engineering Export Promotion Council awards function here.

Congratulating the EEPC for bringing out a strategy paper on EPO, Mr. Kamal Nath said it clearly indicated the potential that existed in this emerging sector and assured the council that his Ministry would carefully look into the recommendations made in the strategy paper and ensure that EEPC could play a proactive role in promoting the EPO sector, besides export of engineering goods. Stating that engineering exports from India had crossed $26 billion in 2006-07, he asked exporters to use the "focus market scheme'' to promote exports of Indian engineering products, as the potential growth for engineering exports in focus markets, especially the CIS countries, was huge.

Printer friendly page  
Send this article to Friends by E-Mail