India’s engineering exports dip for the 4th time in a row
Indian engineering exports are suffering setbacks in almost all the major destinations, including the US, European Union, Middle East, South Asia and CIS countries according to EEPC India. With September shipments conceding fourth straight monthly decline and fifth in fiscal 2019-20 to 6.11%, it is quite evident that a global slowdown has taken a toll on Indian engineering exports.
“Data for most of our markets shows subdued trends, posing big challenges for Indian exporters. All the key stakeholders – exporting community, government, RBI and policy think tanks like NITI Aayog need to work together and re-strategise the approach towards exports in the fast deteriorating global markets, ” stated EEPC India chairman Mr Ravi Seghal.