Engineering exports declined by about 10% to $ 27.81 billion in the first half of the current fiscal due to slowdown in major western economies.
The exports had totalled $ 30.89 billion in April- September period of the last fiscal. The decline was 8.2% in September. “The countries which are the principal trade partners of India, such as Germany and other EU countries are under economic slowdown, and this has affected our exports severely,” EEPC India chairman Aman Chadha said. Joint secretary in the commerce ministry, Sumanta Chaudhuri, stressed upon diversification of destinations to deal with the ongoing slowdown in major markets.
India exports engineering items such as transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
To promote engineering exports, EEPC India in association with Ministry of Commerce and Industry organises India Show in different parts of the world. The last India show was organised at Brno, Czech Republic in September.Ambassador of Czech Republic Miloslav Stasek, who was also present at the press conference, said his country attaches highest importance to economic engagements with India.
