President Murmu urges exporters to turn challenges in global trade into opportunities

New Delhi, Sep 8 (IANS) President Droupadi Murmu on Monday urged Indian exporters of engineering goods to turn the challenges of global trade into opportunities by utilising the exceptional capabilities available in the country.

“India's engineering export destinations have changed significantly over the last seven decades. The Engineering Export Promotion Council (EEPC) should continue this process of change and keep working to make India's economy continuously stronger with the spirit of Nation First,” the President said in her address at the EEPC’s platinum jubilee celebration here.

Murmu said she was happy to note that in the last 10 years, India's engineering exports have increased from 70 billion dollars to more than 115 billion dollars. She said that this growth in exports seems even more impressive when we consider that there have been many challenges in the field of international trade during the last decade. She appreciated EEPC for its contribution to this achievement.

The President said that EEPC acts as a bridge between the international market and Indian producers. She urged EEPC to continuously expand India's role and the role of Indian entrepreneurs in the Global Value Chain. She highlighted that due to the changes taking place in the World Trade Order and International Economic Order, its role has become even more important.

The President further stated that high-quality engineering services and products at low cost are a great strength of India. Global Capability Centres of the world's biggest companies are in India. Stakeholders like EEPC should move forward with the idea of making India a Global Innovation Centre by providing proper incentives and an ecosystem. Experts of the global economy and trade discuss innovation economies and catch-up economies. Innovation economies are the most competitive and prosperous economies in the world.

She urged all stakeholders of EEPC to pledge to make India a leading innovation economy by providing an enabling ecosystem to the talent and energy available in the country.

President Murmu further stated that in ancient times, India led the world in both spirituality and trade. Making India once again a leading centre of knowledge and trade should be the resolution of all citizens. Being an important stakeholder in the economic sector, EEPC should take this resolution with great determination, she added.

--IANS

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