‘Engineering exports to China doubled in Nov.’

U.S. remains top importer: EEPC

Engineering goods shipments to China more than doubled in November, to $434.6 million (₹3,260 crore approximately) as compared with $205.3 million (₹1,540 crore) in the same month last year, sector export promotion body EEPC said on Friday.

The U.S. remained the top importer of Indian engineering goods at $1,196 million during this period, registering 36.6% growth.

India’s engineering exports continued to grow in November but a decline was observed in the value of shipments, the EEPC said.

Total engineering goods exports slowed down to $7.7 billion (₹57,000 crore approximately) in November from $9.03 billion (₹67,000 crore) in October.

Growth was, however, still substantial at 37.1% over the exports of November 2020, which stood at $5.62 billion.

“The slowdown seems to be indicating the distress exporters are facing given volatility in world demand and the uncertainty regarding the pandemic which has been triggered by Omicron,” EEPC India chairman Mahesh Desai said.

Source: Read Full Article