+
 Indian companies must explore projects in Europe, US: Piyush Goyal
ECONOMY & POLICY

Indian companies must explore projects in Europe, US: Piyush Goyal

Minister of Commerce and Industry, Piyush Goyal, said that Indian companies must explore engineering and construction projects in developed nations like the US to have a lower risk option and gives a better rating.

He added that the project also includes the export of engineering consultancy.

During an event organised by the Export-Import Bank of India (EXIM), he said that Indian firms should not necessarily focus only on projects with government funding or lines of credit from the government, which are third world, backward or less developed countries. The projects in Europe or US have much lower risk, with better pricing. It will lower the capital requirements with a high credit rating for projects in developed countries.

According to Goyal, Exim Bank can conduct a study based on the restrictions in developed countries, how can access of Indian companies in project exports be improved, and what are the government restrictions, among others. Besides, the market access problems for project exports could be addressed by the government through the free trade agreements that India is currently negotiating and gearing up.

The minister said that despite challenges for international trade from Omicron, supply chain disruptions, and geopolitical conflicts, including the Russia-Ukraine war, international trade had been complicated. However, India exported goods worth $38 billion in April this year.

Image Source

Also read: India signs a free trade pact for duty-free exports to the Emirates

Minister of Commerce and Industry, Piyush Goyal, said that Indian companies must explore engineering and construction projects in developed nations like the US to have a lower risk option and gives a better rating. He added that the project also includes the export of engineering consultancy. During an event organised by the Export-Import Bank of India (EXIM), he said that Indian firms should not necessarily focus only on projects with government funding or lines of credit from the government, which are third world, backward or less developed countries. The projects in Europe or US have much lower risk, with better pricing. It will lower the capital requirements with a high credit rating for projects in developed countries. According to Goyal, Exim Bank can conduct a study based on the restrictions in developed countries, how can access of Indian companies in project exports be improved, and what are the government restrictions, among others. Besides, the market access problems for project exports could be addressed by the government through the free trade agreements that India is currently negotiating and gearing up. The minister said that despite challenges for international trade from Omicron, supply chain disruptions, and geopolitical conflicts, including the Russia-Ukraine war, international trade had been complicated. However, India exported goods worth $38 billion in April this year. Image Source Also read: India signs a free trade pact for duty-free exports to the Emirates

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?