Led by strong demand from the US, Europe and UAE, engineering goods exports in July 2021 reached an all-time high of US$ 9.14 billion accounting for one-fourth of the country’s total merchandise exports , said a media release issued by EEPC India. The US remained top importer of India’s engineering goods with total exports growing 27.23% in July to US$ 1,272 million as compared to the same month a year ago. UAE ranked as India's second largest export destination for the third time in a row with July shipment nearly doubling to US$ 518 million as against US$ 269.29 million in July, 2020, an EEPC India analysis showed. Like the previous month, exports to China slipped to the third position and declined 13% to US$ 532 million as compared to the same month last year. Exports of iron and steel to China fell sharply by 55.38% in July this year. As many as 20 out of 25 key nations accounting for 77% of India’s total engineering exports recorded positive monthly growth during July 2021 over July 2020. This significant high share is indicative of the dependence of India's engineering export on the traditional markets. “The record high exports of engineering… Read full this story
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