11/7/2012 8:43:00 AM
NEWS BRIEFS
India’s Engineering Exports Shrink 10%

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Engineering exports from India, including fasteners, decreased 10% to $27.8 billion in the first half of the current fiscal year due to slowdown in major western economies, the Indian Express reports.
“The countries which are the principal trade partners of India, such as Germany and other EU countries are under economic slowdown, and this has affected our exports severely,” stated EEPC India Chairman Aman Chadha.

The exports had totaled $30.89 billion in the April- September period of the previous fiscal period, according to the Express. The decline was 8.2% in September.

India exports engineering items such as transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners. ©2012 GlobalFastenerNews.com