+
 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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code