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‘Engineering exports to 19 nations decline sharply’

Engineering exports to at least 19 of India's top 25 destinations have seen a sharpfall, with Malaysia recording a fall of about 90 percent.

Policy Pulse
Publish Date: Mar 6 2016 1:18PM | Updated Date: Mar 6 2016 1:18PM

‘Engineering exports to 19 nations decline sharply’

 Photo: Reuters

 
Engineering exports to at least 19 of India's top 25 destinations have seen a sharpfall, with Malaysia recording a fall of about 90 percent. 
 
Engineering Export Promotion Council (EEPC) said dip in growth of exports to important destinations has fallen by more than 50 percent in January. 
 
Engineering exports dipped 28 percent in January from $6.70 billion to $4.82 billion in the year-ago period. 
 
In a release EEPC also said that engineering exports to UAE fall by more than half to $484.12 million same month.
 
Scenario is same other destinations including the Middle East and West Asia region. 
 
In products category, a major plunge was seen in iron and steel which dipped by almost 50 percent to $355 million from $709 million.
 
Similarly, the fall in copper and products was over 47 percent from $306 million to $160 million, the council added.