India's engineering exports grew by about 50 per cent year-on-year to 5.5 billion dollars in December last year. The gain is attributed to increased demand from US and Middle East markets. Engineering Export Promotion Council, EPCH said, there are good number of orders from the US and Middle East but the recovery in the European economy is still fragile and demand is yet to pick up. Out of India's total engineering exports worth 32.5 billion US dollars in 2009-2010, the US and EU accounted for about 65 per cent of the shipments. During April-December, 2010-2011, the exports jumped about 50 per cent to 37 billion dollars, compared to the corresponding period of the previous fiscal. Engineering exports include heavy engineering goods, transport equipment, capital goods, other machinery equipment and light engineering products like castings, forgings and fasteners.
News On AIR | January 30, 2011 8:34 PM
India's engineering exports grow by 50 per cent