10/18/2012 2:55:00 AM
NEWS BRIEFS
India’s Engineering Exports Fall in September

Slow demand in the U.S. and EU drive exports of engineering items such as transport equipment, capital goods, other machinery/ equipment and light engineering products like castings, forgings and fasteners, dropped by 8.2% to USD 4.4 billion in September 2012, the SME Times reports.

These exports stood at $4.8 billion in September of last year, according to data released by the Engineering Export Promotion Council (EEPC).

Given the present slowdown, this trend is expected to continue for at least another two months.

The U.S. and Europe together account for over 60 percent of India’s total engineering exports.

During April-September 2012-13, engineering exports dipped 10% to $27.8 billion. 

During 2011-12, the country’s engineering exports grew 17 percent to USD 59 billion compared to USD 49.7 billion in the previous fiscal.