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Project Exports: A catalyst for technological advances

August 2017, Guest Columns
by Sandip Baran Das
An industry expert explains the significance of Project exports to India’s growth agenda.

Project is an engineering venture or mission: a scheme of development work to be executed by employing the best technologies, continuous innovation and resources – human, financial and physical to create a capital asset. As technology advances, projects tend to move up in sector size as well as technological sophistication in the value-chain.

Project Exports, in essence, connotes setting up of projects overseas as construction and/or engineering projects. It could also involve the export of engineering consultancy or other engineering services as desired by the project owner. In simple terms, export of engineering goods/services on deferred payment terms which lead to execution of turnkey projects including civil construction works abroad are collectively referred to as Project Exports.