Engineering trade fair kicks off

NEW DELHI, FEB 10: Asia's largest industry fair Indian Engineering Trade Fair IETF '99 with participation from 47 countries and 2100 ex...

NEW DELHI, FEB 10: Asia8217;s largest industry fair Indian Engineering Trade Fair IETF 8217;99 with participation from 47 countries and 2100 exhibitors kicks off from Thursday. More than 250,000 visitors from all over the world are expected to visit the fair which will display over 150 product categories, said Confederation of Indian Industry CII president Rajesh Shah.

Shah said the fair will demonstrate the Indian industry8217;s commitment to economic liberalisation, particularly at a time when the country8217;s image took a beating due to nuclear tests.

The CII president said that such an event not only helps in providing a platform for companies to interact and transact business but also builds networking in terms of funds and technology.

Commenting upon the economic scenario, Shah said the industry is not satisfied with a 5.5-5.7 per cent growth. quot;We would like at least seven to eight per cent growth in the GDPquot;, he said, adding, quot;the industry expects the Budget, being presented on February 27, to begrowth-orientedquot;.

CII8217;s trade fairs committee chairman Pran Talwar told reporters that the IETF 8217;99 will be the quot;biggest such fair everquot;. Korea is the partner country in the fair with participation from 150 Korean companies, including 138-odd small and medium enterprises looking for partners at the fair. Maharashtra will be the partner state, he added.

Korean chaebols like Daewoo, Hyundai, Samsung and LG will display their latest products during the fair. Some of the sectors covered by the Korean participants will include automobiles, agricultural products, electronic components, IT equipment, computer hardware and software, machine tools, multi-media, textile and welding machinery and white goods.

Talwar said among the Indian corporate participants will be names like Tisco, Telco, Titan, TCS, Forbes, Rallis, Voltas, Hero group, Godrej amp; Boyce, Lamp;T, Greaves, SAIL, Escorts and TVS.

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Besides, there will be seven concurrent sector-specific fairs including the Automechanika India, Cleantech Environment8217;99, Nasscom-Mait-CII-IT Asia 8217;99 and Enterprise 8217;99. The Enterprise 8217;99, which will be co-sponsored by the Small Industries Development Bank of India Sidbi with 118 participants, will focus on small and medium enterprises.

Talwar said such events create relationships between companies besides generating business. The overseas exhibitors, which account for over 50 per cent of the total participants this time, will also get a chance to explore possibilities to make India a sourcing base, he added.