Thursday, June 20, 2024
HomeBusinessEngineering exports surge for third straight month

Engineering exports surge for third straight month

Date:

Related stories

Maximize your claim settlement: Hire an injury lawyer in Salt Lake City

Imagine this – You were driving as usual in Salt...

3 Ways in Which Search Engine Optimisation Could Boost Traffic Numbers To Your Website

In the constantly evolving and fast-paced digital landscape at...

127.0.0.1:49342: A Comprehensive Guide To Localhost, Fixing, Configuring and Working

Technology has numerous terms that have unique importance and...

Which DNA test is the most reliable for determining paternity?

When it comes to determining paternity, DNA tests are the...

[ad_1]

Even compared to May 2019, when economic activities were normal, shipments of engineering items clocked a growth of 14.65% in May this year, EEPC India said.

India’s engineering exports crossed $8 billion up to May this fiscal, witnessing growth for the third straight month.

The global markets for 30 of the 33 engineering goods categories remained robust, but exports of lead (21%) and zinc (2%) products and of ships and boats (16%) declined during the period. The share of engineering goods in total merchandise exports rose to 25.44% in May from 24.83% in April and 25.36% in March. The growth on a cumulative basis was 25.23% during April-May.

Even compared to May 2019, when economic activities were normal, shipments of engineering items clocked a growth of 14.65% in May this year, EEPC India said.

Among the top 25 key markets for Indian engineering goods, 22 recorded positive growth, but shipments and export volumes to China, Indonesia, Malaysia and Saudi Arabia declined. The US topped the list, with export shipments growing 56% valued at $ 1,022 million. UAE ranked second, growing 70% year-on-year in May. The European Union accounted for 21%, North America 16.8% and ASEAN 15.7% of India’s total engineering exports during April-May.

“To keep the momentum going, India needs to vaccinate most citizens at the earliest,” EEPC India chairman Mahesh Desai said. EEPC expects the government to provide targeted support to the industry as there are predictions of repeated waves of pandemic, he said.



[ad_2]

Source link

Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories