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.
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