Indian engineering exports to 18 key markets record positive growth in October: EEPC
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Engineering Exports Promotion Council (EEPC) India has said Indian engineering exports to 18 key markets recorded positive growth in October, 2023. Countries which registered positive growth in exports during October include the UK, US and UAE among others. However, it said that China, Italy, Singapore and Indonesia were among the countries that saw a decline in engineering shipments during the month.
It highlighted, on the whole, engineering exports from India during October increased to $8,094.20 million, registering a rise of 7.2 per cent from $7,550.69 million year-on-year. Cumulative engineering exports from April to October 2023 were down 1.61 per cent at $61.63 billion from $62.63 billion in the previous similar period.
Further, it stated engineering exports to the US was $1391.5 million, up 2.2 per cent year-on-year against $1361 million. For Germany, exports in October was higher by 20 per cent at $342.7 million. Engineering exports to UAE increased 2.9 per cent year-on-year at $348.6 million. Besides, EEPC India chairman Arun Kumar Garodia said that the metal sector, specifically iron and steel, aluminium and zinc products saw a decline in exports in October this year.
