- The summit was organized by Engineering Exports Promotion Council (EEPC) with support from the Ministry of External Affairs and the Department of Commerce.
- The objective of the summit was to discuss collaborations in the engineering sector.
- It was the major platform to discuss the involvement of Indian industries in engineering trade and investments areas at the ASEAN level.
- The summit allowed the dignitaries to discuss the export target set by GOI in the engineering and merchandise exports domain.
- At the summit, Union Minister Anupriya Patel mentioned that ASEAN has a 15% share in India’s global engineering shipment and will soon be the vital one to focus to attain a target of around USD 16 billion of exports for 2021-22.
- ASEAN will become a vital region for India to attain its target of USD 46 billion in export in order to meet the global export target of USD 400 billion in FY 2021-22.
- She also mentioned that GOI is taking major steps for foreign direct investment. She highlighted the newly approved Production-Linked Incentive (PLI) Scheme which covers the major 13 sectors in order to attract investments and boost India’s manufacturing sector.
- Static Part:
- HQ of ASEAN: Jakarta, Indonesia
Question:
Q.1 Which entity organized India-ASEAN Engineering Partnership Summit 2021?
a. Export Credit Guarantee Corporation of India
b. Federation of Indian Export Organisations
c. NASSCOM
d. Engineering Exports Promotion Council
a. Export Credit Guarantee Corporation of India
b. Federation of Indian Export Organisations
c. NASSCOM
d. Engineering Exports Promotion Council
