India must capitalise on the ongoing slowdown in Chinese manufacturing sector owing to the spread of COVID-19 and the trade wars between China and the United States, said Ravi Sehgal, chairman, Engineering Export Promotion Council (EEPC) India, here on Friday.
Addressing media on the upcoming International Engineering Sourcing Show (IESS) in Coimbatore from March 4 to 6, he said the Micro, Small and Medium Enterprises (MSME) must significantly increase their capacity. He said the Union Ministry of Commerce and Industry along with EEPC India recently did an analysis of major MSME sectors in China catering to the United States and European markets.
Rife with oppoturnity
“We found for instance that the entire water industry in the U.S. was dependent on China for things like pipe fittings and valves. Wuhan in China, which is the most affected in COVID-19, was the manufacturing hub for these items,” he said.
Indian MSMEs in this sector can leverage this opportunity, he added.
Echoing similar thoughts, Rajendra Kumar, principal secretary, MSME Department in Tamil Nadu, highlighted initiatives taken by the State government to promote the MSME sector, particularly through simplifying the approval process.
Stating that Tamil Nadu has been hosting IESS for the fourth consecutive year, he pointed out that the MSME Department is helping more than 100 MSME players from the State to exhibit their products at IESS.
C.H. Nadiger, regional director, EEPC India, said this is the first time the IESS is being hosted in a Tier-2 city.
“We could not think of a better city than Coimbatore, which is home to a variety of industries,” he said.
