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Engineering Export Promotion Council (EEPC) of India has said that export of engineering goods to CIS countries including Russia and Ukraine fell the most year-on-year during April 2022, while that to North America registered the highest growth during this period. As per the region-wise data, exports to CIS countries slumped to $25.1 million in April 2022 from $90 million in the same month last year. On the other hand, exports to North America surged 52.9 per cent year-on-year to $2.26 billion in April compared to $1.48 billion in the corresponding period of the previous year. The region remained the top market ahead of the European Union (EU) for Indian engineering goods during the period under review. Engineering export to the EU was $2 billion last month as compared to $1.42 billion in the same month of the previous year,

EEPC said India’s engineering exports recorded 21.97 per cent growth in April 2022 over the same month last fiscal by registering $9.73 billion of shipments last month as against $7.97 billion in April 2021. The share of engineering exports in total merchandise exports was recorded at 24.20 per cent during this period. The target for India’s engineering exports for 2022-23 has been set at $127 billion by the government. In line with the target for the entire fiscal, that for April 2022 on a pro-rata basis was $10.58 billion while actual export during the month was $9.73 billion.

Following the remarkable performance in FY 2021-22, it said India’s merchandise, as well as engineering exports, recorded impressive numbers in the first month of the new FY 2022-23. During this time while India’s merchandise exports grew by 30.7 per cent to reach $40.19 billion, engineering exports grew by nearly 22 per cent to reach $ 9.73 billion.