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The government has planned investment worth over 20,000 billion Rupees in the infrastructure sector like roads, ports, irrigation, energy, telecom etc in the next 10 years. About 50 % of this amount will be spent in the construction sector alone. This was announced by the Union Minister of State for Commerce and Industry, Shri EVKS Elangovan here today. He was inaugurating the annual exports awards function, instituted by the Projects Exports Promotion Council of India (PEPCI). Speaking on the occasion, the minister said that the project exports have touched Rs. 3760 crores last year and has registered a growth rate of over 35 %. “This is a key indicator of the technical maturity and the industrial capability of our country. Project exports not only earn foreign exchange but also create additional avenues of employment.” he said.
The Minister advocated a ’consortium approach’ to be followed by the large construction, engineering and consultancy companies to secure international projects in turnkey modules. “Such large turnkey projects necessitate working in tandem, and for this, technological upgradation is required” he noted. Distributing the awards he said that international projects must be pursued with vigour despite recession as they offer several spin-off benefits. Shri Elangovan also urged companies to adopt international practices in Project Management which will facilitate earning more contracts abroad.
While award for securing maximum turnover was given to Larsen and Toubro, IRCON Internatinal Ltd bagged the award for earning and repatriating maximum foreign exchange to India.
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