HomeMore Trade NewsApril's Engg Exports up 15%

April’s Engg Exports up 15%

Published on

Exports of engineering items in value terms stayed above US$ 9 billion in April and recorded 15% year-on-year growth. This clearly shows India is gradually moving towards becoming a manufacturing powerhouse in the world, EEPC India Chairman Mr. Mahesh Desai said.

“While the trade deals with UAE and Australia are expected to give a boost to the sector, the proposed free trade pacts with other countries like UK and Canada would further give impetus to exports from India,” he said.

“Even as several world institutions have downgraded India’s GDP growth it is still the fastest-growing among major economies. This suggests India stands on strong footing and the engineering sector which contributes over one-fourth of the country’s total exports would remain a key growth driver,” Mr Desai noted.

Mr. Desai said that there are certain challenges such as high logistics cost and unprecedented increase in raw material costs which have been hurting the engineering as well as other sectors.

“The government is well aware of the issues facing the sector and we hope policy actions would be taken to minimize the impact,” he said.

spot_img

Latest articles

Vizag Port gets new CVO

Mr P.S. Lingeswara Swami, IOFS has recently taken charge as the new Chief Vigilance...

Maersk orders 6 new green vessels

A.P. Moller - Maersk (Maersk) recently announced that it has ordered a further six...

Our acquisition of GPL will boost AP’s industrialization: Karan Adani

Adani Ports and Special Economic Zone Ltd (“APSEZ”), part of Adani Group, recently received...

Forging US-AP Partnerships

The U.S. Consul General Ms Jennifer Larson recently called upon the Chief Minister Mr Y....