The path chosen by India in early nineties in liberalizing and integrating its economy in the global context is yielding significant results with the Indian economy growing at an annual rate of around 9 percent. In the new millennium, our country is chartering out a path towards higher economic development and prosperity.

India, with its large skilled workforce, growing domestic market, raw material availability and emergence of a mature supply base offers certain unique strengths and potentials, which is being recognized on a global scale. Outsourcing of manufacturing and services activities especially in the knowledge based industries and manufacturing sector from India has become an essential business strategy for the developed countries.

In this fast changing global scenario, Government of India, recognizing foreign trade as one of the main catalysts for stimulating the economy, had set a target to double the country’s share in international trade to 1.5% by the year 2009. In 2008-09, this has been achieved. Business and industry, merchant and manufacturing exporters are working as partners with the Government to accelerate India’s foreign trade.

Integration with the global economy, while throwing a number of challenges, is providing immense opportunities for Indian companies to map out the entire world.

In this background, PEC is very optimistic about technology and engineering led growth in exports besides import and exports of industrial raw materials, agro commodities, bullion etc. The Indian market is large and expanding. The Indian technology especially from medium and small-scale sector provide immense opportunity for companies, particularly in the developing nations to increase trade with our country.

The Corporation, with its experience of over 38 years in international trade and a strong established base of associates to provide the technology and products, is well equipped to cater to the demands of the foreign clients. It is our humble endeavor to add more value everyday for mutual benefit.

During the financial year ended in March 2009, the Corporation clocked a turnover of Rs 10275 Crores (US$ 2.05 billion) and achieved its highest ever profit before tax of Rs. 112.26 Crores( Rs. 72.17 Crores after tax). PEC’s employees have contributed immensely towards this path breaking effort.

The Corporation is grateful to its clients, customers and associates for giving it an opportunity to grow. We are also thankful to our stakeholders who have posed confidence in the company.