Punjab industrialists turn to Czech for greener pastures
Amidst steep decline in exports, especially due to devaluation of rupee and global economic recession, exporters of engineering goods would be provided an opportunity to tap the export potential at the forthcoming India Show in Brno in Czech Republic.punjab Updated: Jul 17, 2012 17:10 IST
Amidst steep decline in exports, especially due to devaluation of rupee and global economic recession, exporters of engineering goods would be provided an opportunity to tap the export potential at the forthcoming India Show in Brno in Czech Republic. The event will run from September 10-14.
Engineering Export Promotional Council (EEPC) is the organizing partner of show. More than 150 exporters (including 20 from Punjab) have confirmed their participation.
International buyers, especially from European and Latin American countries were expected to visit the show, EEPC deputy director Opinder Singh told HT.
The state government is also expected to participate in the show, as it has sought details on booking a 100-sq metre stall at the event. Singh added that commerce minister Anand Sharma would inaugurate the show, which will enable Indian entrepreneurs to explore new markets in Europe and other countries.
EEPC is extending 50% rebate on the booking of space to the industrialists apart from 50% rebate on cost of ferrying the sample products for display in the Show, Singh added.
He added that if total space rent of any unit owned by women/SC/ST entrepreneur and entrepreneurs of north eastern region crossed the upper reimbursement limit of Rs 1.25 lakh, then security to the tune of 50 per cent of Rs 1.25 lakh i.e. Rs 62,500/- will be returned to them after participation in the fair. However, in the event of non-participation in the fair, the security deposit & deposit in excess of Rs 1.25 lakh (if any) given by women/SC/ST entrepreneurs and entrepreneurs of north eastern region will be forfeited.
Micro Small and Medium Enterprises (MSME) department of the union government has also announced 50% subsidy on the cost of renting a stall in the show. The airfare of the participating participating industrialists owning Small Scale Units would be reimbursed (75%) as a gesture to promote small-scale industries.
Exporters of machine tools, hand tools, auto parts, casting & forging and tractor parts are expected to participate in the India Show, as there is huge potential of export of such items in European and Latin American countries, Singh said, adding that there were more than 75,000 visiting buyers in the show in the show last year and more visitors were expected this year.
Special arrangements would be made for Business to Business (B2B) interactions and meetings of buyers and sellers during the show. Agreements on technical collaboration with Indian industrialists are also expected to materialize, due to the relatively cheap labour rates in India.