$12bn export target

"Industry should no longer look up to the central government for areas like research and development or issue regarding economies of scale," Kamal Nath, minister of commerce and trade, government of India, said here today.

Nath said at an exports awards ceremony for 2001-02 & 2002-03, organised by the Engineering Export Promotion Council (EEPC), "The export target of $12.75 billion for 2004-05 could be achieved through innovation in engineering goods, and new markets and strategy".

The Indian economy would have to integrate with regional trade blocs to sustain robust growth.

"Apex bodies like EEPC should work on integrating agreements that India was getting into," added Nath.

Bharat Heavy Electricals and Tata Motors received top exporter awards along with Ferro Alloys Corporation and Voltas.