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The exports to the US dipped seven per cent year-on-year to USD 15.95 billion throughout this era, EEPC stated in an announcement.
In case of China, engineering shipments to that nation noticed a marginal decline to USD 2.38 billion from USD 2.40 billion within the interval beneath overview, it stated.
Exports to the UAE and Australia, with which India had signed an FTA, remained constructive.
Until February, shipments to the UAE rose 16 per cent on-year to USD 5.22 billion, whereas these to Australia was increased by 5 per cent at USD 1.30 billion.
Cumulative engineering exports throughout April-February (2023-24) stood at USD 98.03 billion as in opposition to USD 96.84 billion within the corresponding interval a yr in the past, the assertion stated. “In the previous few months, engineering exports from India have been on a gradual development path. The outstanding efficiency of the sector within the final three months made it potential for the cumulative exports to file excessive development.
“As India’s present financial efficiency stabilises, we’re hopeful that with the constructive flip of tide in world commerce, India’s exporting group will have the ability to elevate exports to a brand new excessive,” EEPC India Chairman Arun Kumar Garodia stated.
