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Annual Report 2005-06

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Annual Report 2005-06 Annual Report 2005-06 The Working Committee constituted at the 50th Annual General Meeting of the Council has the pleasure in presenting its activities during the period 1st April, 2005 to 31st March, 2006. Export Performance A. Overall Export Performance During the reporting year, India’s merchandise exports were Rs. 4,45,657.97 crores, in rupee terms which is 23.15% higher than the value of exports as compared to the preceding fiscal. In dollar terms, exports are valued at US$ 100606.92 million (US$ 100.6 billion) which is 24.71% higher than the value of US$ 80672.41 million during April-March, 2004-2005. B. Performance of the Engineering Sector in 2005-06 During the year under review, India’s exports of engineering goods have put up a growth of about 24.61% in dollar terms in 2005-06 over 2004-05. These estimates are based on the provisional data released by DGCI&S which suggests that exports of engineering goods from India in 2005-06 touched US$ 19.18 billion. In the month of March 2006, exports of engineering goods were to the tune of US$ 2447.28 million, up from US$ 2022.97 million recorded in March 2005 and higher by more than 20%. In rupee terms, India’s export of engineering goods is valued at Rs. 84,943.73 crores during April-March 2005-06 which is 22.78% higher than the value of the export valued at Rs.69,181.67 crores during April-March 2004-05. Target Value Target Achieved Year In US$ Millions In US$ Millions 2000-01 5,525 6,047 2001-02 6,300 5,975 2002-03 7,100 7,870 2003-04 8,500 11,553 2004-05 12,750 15,926 2005-06 18,300 20,300 Exports of Engineering Goods & Services Targets & Achievements Targeted Export Value in US$ Millions Achieved Export Value in US$ Millions 25,000 20,300 20,000 18,300 15,926 15,000 12,750 11,553 8,500 10,000 7,870 7,100 6,300 Millions 6,047 5,975 5,525 5,000 Value in US$ Value in US$ 0 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 Fiscal Year C. Performance: Principal Commodity-wise Export performance of the principal commodities has been given in the following table : Export Performance of Principal Commodities: 2005-06 over 2004-05 (values in US$ Million) Commodity Name 2004-05 2005-06 Growth% Machinery & instruments 3717.74 4795.29 28.98 Transport equipment 2828.51 4565.89 61.42 Manufactures of metals 3400.05 4172.72 22.73 Primary & semi-finished iron & steel 3518.18 3006.08 -14.56 Non-ferrous metals 764.55 1361.14 78.03 Iron & steel bar/rods 401.30 504.28 25.66 Ferro alloys 267.56 264.61 -1.10 Aluminium other than products 249.39 217.50 -12.79 Machine tools 176.56 214.31 21.38 Residual engineering items 52.64 64.17 21.90 Mica 14.13 17.32 22.58 Grand Total 15390.61 19183.31 24.64 Machinery and instruments continue to be the highest contributor with a strong growth of around 29% in dollar terms over 2004-05 followed by Transport Equipments registering growth above 60%. Metal manufactures also have registered a substantial growth of 23%. However, Non- Ferrous metals recorded highest growth. Export Performance of Prinicpal Commodities 2005-06 over 2004-05 2004-05 2005-06 6000.00 5000.00 4795.29 4565.89 4172.72 4000.00 3717.74 3518.18 3400.05 3006.08 3000.00 2828.51 2000.00 1361.14 Value in Million US$ in Million US$ Value 1000.00 764.55 504.28 401.30 267.56 264.61 249.39 217.50 214.31 176.56 64.17 52.64 17.32 0.00 14.13 s a el cts ic ent tal te u ents tools M m pm s d e ui f me & ro q o n p e el bar/rods s iro e Ferro alloys re than Machin port ed ry & instru & st e actu ish n her f l engineering items u Non-ferrous metals ot a Trans n -fin Iro u Ma um d Machin semi ni & Resi y lumi A rimar P Principal Commodities 2 D. Export Performance to Top 10 Destinations During the year under review, engineering exports have gone through a major change in terms of their destinations. Once again, USA is the highest importer of Indian engineering goods and services followed by UAE. From the table below, it is evident that Singapore, which was at the 6th position during the year 2004-05, have become the 3rd largest importer of India’s engineering goods. Export Performance to Top 10 Destinations for the fiscal year 2005-06 (figures in US$ million) Importing Cumulative Cumulative % change Rank Rank Country Exports 2004-05 Exports 2005-06 over 2004-05 04-05 05-06 USA 2336.35 2720.85 16.43 1 1 UAE 1015.81 1689.93 66.33 2 2 Singapore 605.72 1130.58 86.61 6 3 UK 786.68 920.26 16.95 4 4 China 891.55 721.16 -19.13 3 5 Germany 568.83 651.82 14.57 7 6 Sri Lanka 438.11 633.11 44.48 8 7 Italy 622.98 591.68 -5.04 5 8 South Africa 261.94 496.48 89.49 15 9 Saudi Arabia 259.88 474.42 82.52 17 10 Most noticeable of all, however, is the ascent of South Africa and Saudi Arabia from their 15th and 17th positions to 9th and 10th positions respectively. Top 5 destinations and performances of principal commodities in those markets are given below : Destinations Substantial Growth Heavy Decline USA Aluminium other than products, Machine tools, Ferro alloys, Primary & semi- Machinery & instruments, Residual engineering finished iron & steel items, Transport equipment UAE Non-ferrous metals, Primary & semi-finished Aluminium other than iron & steel, Residual engineering items, products, Ferro alloys, Iron & Transport equipment steel bar/rods Singapore Iron & steel bar/rods, Non-ferrous metals, Ferro alloys Transport equipment UK Machinery & instruments, Non-ferrous metals, Residual engineering items Primary & semi-finished iron & steel China Iron & steel bar/rods, Machine tools, Mica, Non- Aluminium other than ferrous metals products, Primary & semi- finished iron & steel 3 E. Analysis on Revised Data of the last fiscal (2004-05) In the reporting year, Council carried out an analysis and found 292 engineering items are not being considered by DGCI&S while computing the data for the engineering sector. This has resulted in understatement of export performance of engineering items. It has been found that these items account for over Rs. 3,000 crore (over US$ 600 million) worth of exports which have not been taken into account of exports of engineering goods so far. The export performance of the sector has since been revised upwards for 2003-04 and 2004-05. The group-wise revised performance for the year ended and also for the last fiscal is given below : EXPORT OF ENGINEERING GOODS & SERVICES DURING 2001-02 TO 2004-05 (VALUE IN US$ MN) 2003-04 % GROUP-WISE EXPORT 2003-04 (REVISED) 2004-05 GROWTH. CAPITAL GOODS 3102.96 3454.95 4649.06 34.56 PRIMARY IRON & STEEL AND ITEMS THEREOF 4338.58 4386.79 6563.04 49.61 NON-FERROUS METALS & PRODUCTS THEREOF 1046.13 1049.04 1523.24 45.2 CONSUMER DURABLES 2101.16 2453.11 2945.92 20.09 TOTAL 10588.83 11343.89 15681.25 38.24 MANAGEMENT & TECHNICAL SERVICES 208.92 209.47 245.32 17.11 GRAND TOTAL 10797.8 11553.4 15926.6 37.85 Promotional Activities In the reporting year, Council organized various activities for promoting exports of Engineering goods and services from India. It is important to mention that the exhibition organized by the Council in the name of Indiatech has changed to INDEE (Indian Engineering Exhibition). The first of this kind is held in Mexico. Besides, organizing own exhibition, Council participated in various Information Booths and Catalogue Shows with the help of foreign offices. Also, Council arranged Buyer-Seller Meets and Delegations for the benefit of exporters in India and Abroad. The overseas offices were instrumental for product mailing campaign and updating of importers/distributors list of their respective territories covered by each office. In the domestic front, Council conducted various seminars/workshops and awareness seminars on export finance, quality up gradation, focus country programs, award functions and meetings with government agencies for solving the exporter’s problems. Information on overseas trade opportunities for products, turnkey projects and services were regularly collected and disseminated among member exporters. During the reporting year, Council revamped its website in the form of portal to provide a one stop solution for the exporters and importers. In the newly redesigned and revamped website Council has given a major coverage on various promotional activities from time to time. Also, the enhanced website is the base for providing the e-commerce service to its members in the coming years. 4 A. OVERSEAS EXHIBITION ORGANIZED 1. Trade Fairs and Exhibitions – Participated/Organized Council’s major promotional activities include organizing and participating in specialized exhibitions in the overseas segment. Council organized on its own product display of its member firms in INDEE (formerly Indiatech) exhibition, mobilized India’s engineering industry’s participation in Specialized Fairs and also set up Information Booths in some of the International trade fairs. Product catalogues/profiles of Indian engineering companies demonstrating the competence and capabilities levels in various fields in engineering sector and Council’s own charts/publications were put on display in the Information Booths.
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