Page 2 - Engineering Exports News Today

Overall, Indias engineering exports dropped by 6.62% to US$ 8.75 billion in July 2023 from US$ 9.37 billion in July 2022.

The growing trend of friend-shoring and global companies China plus policy offer a big opportunity for India to diversify trade, especially to non-traditional markets of Africa and Latin America: EEPC India Chairman

In a meeting called by the Ministry of Commerce & Industry this week, EEPC India chairman Arun Kumar Garodia discussed various recommendations in the strategy paper to boost Indias engineering exports. Pursuing new free trade agreements (FTAs) with emerging countries in Latin America and Africa, a scheme to support MSMEs in research and innovation, setting up a domestic shipping line, and global branding of Indian products were among the key suggestions.

The value of engineering exports to the US was USD 1.4 billion in April 2023, down 24.9 per cent compared to USD 1.86 billion in the year-ago month.

The decline in engineering exports poses a challenge in achieving the $127 billion sectoral export target

Read more about Exports up 52.39% to $7.71 bn during June 1-7 on healthy shipments growth on Business Standard. Indias exports grew by 52.39% to USD 7.71 billion during first week of this month on account of healthy growth in shipments in sectors including engineering, gems and jewellery and petroleum products

In a major rebound of trade since the onset of the Covid-19 pandemic, exports of engineering goods from the country recorded an impressive 70.28 per cent growth in March. Indias total merchandise exports during this period were $34 billion as compared to $21.49 billion in March 2020 registering a jump of 58.23 per cent. The monthly growth is the best-ever performance so far. The sudden jump in outbound shipments offers hope of a sustained growth in the sector in the coming months on the bac...