New Delhi: Trade and Industry Minister Shri Piyush Goyal will address project exporters at a summit on “Enhancing Global Opportunities for Indian Project Exporters” on May 5, 2022, in New Delhi. The summit will bring together national and international stakeholders to facilitate discussions on the current scenario of project exports, the challenges facing exporters, especially in the aftermath of the pandemic, and the opportunities arising due to the changes brought about by the pandemic in business models and development. priorities.

Project exports have received renewed attention from the government. The Ministry of Commerce in September 2021 had approved the infusion of ₹1,650 crore into the National Export Insurance Account (NEIA) Trust. This would allow NEIA to support project exports worth ₹33,000 crore at full capacity and lead to domestic manufacturing to the tune of almost ₹25,000 crore. Earlier, under Atmanirbhar Bharat 3.0, the GOI had announced an increase of Rs. 3,000 Crore to Exim Bank for the promotion of project exports under India’s economic development and assistance scheme.

The Summit will see the participation of Indian Project Exporters, Government of India, Representatives of Foreign Diplomatic Offices in India, Multilateral Financing Institutions, Credit Insurance Agencies, Export Credit Agencies and other development finance institutions. Two topical research publications, “Project Exports from India: Tapping Potential Amid Changing Dynamics” and “India’s Engagements in Free Trade Agreements: Looking Ahead” would also be released during the Summit.

To build national capacity for exporting projects through its BC-NEIA program, India Exim Bank would also sign two agreements at the summit, one with the government. of the Maldives for the design and construction of police stations, housing and a detention center in the Maldives, and another with the government. of Madagascar for a food self-sufficiency project through the provision of modern tractors, agricultural tools and related services for farmers in Madagascar.