Indian Engineering Exports are benefiting from an impressive turnaround in
demand in most of the developed economies especially the United States, which
accounted for an annual growth of 91 per cent of shipments in September this
fiscal, according to an analysis by EEPC India, the apex body for Indian
The U.S. continued to be the topmost exporting destination for India’s
engineering products in September 2017, registering a huge expansion both on
monthly as well as on cumulative basis during April-September 2017-18 over the
same period last fiscal, the EEPC India said November sixth.
While the shipment of engineering exports to the US went up by a whopping
91 per cent to1.53 billion US Dollars in September, 2017 from 551 million US
Dollars in the same month last fiscal, the April-September exports had gone up
over by 47 per cent to 4.79 billion US Dollars from 3.25 billion US Dollars in
the first half of the previous fiscal.
Since the demand pick up, particularly in iron and steel, all ferrous and
non-ferrous metals, is evident in the global market, we expect the exports to
remain buoyant, barring any major adverse event,” Chairman of the EEPC India Mr
T S Bhasin said.
All European nations falling under the top 25 engineering export
destinations like Germany, Italy, Belgium, Netherland, France and Poland also
recorded considerable growth. Engineering exports to Germany saw a jump of over
67 per cent to 288 million US dollars in September, 2017 over 172 million US
Dollars in the same month last fiscal. Likewise, the shipments to Italy rose by
30% to 209 million US Dollars from 161 million US Dollars.