The Engineering Export Promotion Council (EEPC) says a shipping to be formed between India, South Africa and Brazil with the help of the respective governments will give a major boost to exports and business development. Rakesh Shah, Chairman, EEPC said that India can generate business between $250 and 300 billion over the next two-three years by making South Africa a hub of that region. "Currently, a lot of Indian goods are making their way to South Africa through European and French companies. Thus, the exhibition was an eye opener for them to get quality products at a much cheaper price," he said.
Shah said that the market of the 14 nations of South African Development Community countries remained untapped but those could only be served making South Africa as distribution centre.
He also said that the shipping line which was expected to be formed between India, South Africa and Brazil with the help of the respective governments will give a major boost as current freight costs were extremely high and had made Indian goods uncompetitive.
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