India’s engineering exports down 8 per cent in September
17 Oct 2012
Export of engineering goods from the country dropped 8.2 per cent year-on-year to $4.4 billion in September 2012 from $4.8 billion in September 2011, data released by the Engineering Export Promotion Council (EEPC) showed
EEPC attributed the fall in exports to sluggish demand in the European and US markets.
''The exporters are getting lesser number of orders due to weak demand in western markets like the US and Europe,'' an EEPC official said.
EEPC expects the slowdown in engineering goods exports to continue for at least another two months.
During the April-September 2012-13 period, engineering exports from the country dipped 10 per cent year-on-year to $27.8 billion.
India's exports of engineering goods mainly consist of items such as transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
