Excon 2007 to boost trade between India and Lanka - Rajitha Senaratne

The Confederation of Indian Industry (CII) is organising Excon 2007, India's largest and only focused construction equipment and construction technology trade fair, in association with Indian Earthmoving and Construction Industry Association Ltd (IECIAL), at Bangalore to be held from November 14 - 18.

The five-day exhibition is expected to attract 300 exhibitors and 55,000 business visitors across the globe.

Addressing a Road Show on Excon 2007 organised by the CII in association with Ceylon Chamber of Commerce (CCC) Minister for Construction and Engineering Services, Rajitha Senaratne, who was the Chief Guest at the Road Show said, "there is plenty of potential to expand bilateral trade between Sri Lanka and India. To exploit this potential, both countries need to look at broader areas for cooperation, including the construction sector".

The Minister said that under the Free Trade Agreement (FTA) with India, Sri Lanka has tremendous potential to enhance its trade with India. Excon 2007 would give a fillip in enhancing the trade between the two countries especially in the construction equipment sector.

Chairman, EXCON 2007 and Managing Director and CEO, JCB India Limited Vipin Sondhi, in his presentation on Excon 2007 said, "Excon is Asia's third largest trade fair for equipment industry and among the world's top ten construction equipment and construction technology trade fairs".

Besides showcasing world-class products and services in the construction equipment sector, it would also demonstrate the technological prowess of the construction equipment industry.

Sondhi said that the Government of India has accorded top priority for the growth of the infrastructure sector. To achieve a new vision of growth, the Planning Commission, Government of India has estimated that the total investment in infrastructure has to increase from 4.5% to around 7.5% of the GDP in the Eleventh Five-Year Plan (2007-2012).

During the Eleventh Five Year Plan, projected investments of approx. US $ 475 billion has been envisaged in the Indian infrastructure sector. This has led to the huge opportunities for private sector participation in the infrastructure development.

He said that India is increasingly becoming the construction equipment and component sourcing base for the construction equipment and hence the construction and infrastructure sector in Sri Lanka can utilise Excon 2007 to identify potential business partners for sourcing construction equipment/technologies.

Deputy Secretary General, Ceylon Chamber of Commerce (CCC) Malcolm Atton, said that the CII and the Ceylon Chamber of Commerce have been working closely for the past several years in promoting economic cooperation between India and Sri Lanka.

The CII and CCC signed a Memorandum of Understanding (MoU) in 1994 and formed a Joint Task Force. The Joint Task Force has identified specific areas of cooperation.

Member, Excon 2007 Steering Committee, CII and Managing Director, Schwing Stetter India (Pvt) Ltd., Anand Sundaresan, said that Excon, currently in its 4th edition, has grown to become one of the important Construction Equipment events in Asia Pacific.