Engineering exports: Engineering exports register 3 per cent on-year fall in Nov to USD 7.85 bln
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Whereas acknowledging the latest decline, the Engineering Export Promotion Council of India (EEPC) expressed cautious optimism about exceeding final 12 months’s total engineering exports.
“After experiencing a hunch within the first half of 2023, the sector witnessed optimistic development from August to October, which instilled hope for a continued optimistic trajectory,” EEPC India Chairman Arun Kumar Garodia stated.
The business stays cognizant of the present international challenges, together with excessive inflation and rates of interest, notably in key markets like Europe and the USA, he stated.
These components contribute to the continued commerce slowdown and necessitate continued assist from the federal government to make sure that Indian engineering sector stays aggressive within the international market, Garodia stated.
“We consider the engineering exports sector has the resilience and potential to navigate these challenges and finally decide up a powerful tempo of development,” he stated.
