Engineering goods exports crossed US$ 9 mn

Exports of engineering goods from India crossed US$ 9 billion third time in a row in September 2021. 22 export destinations out of total 25 recorded positive growth during the month. Furthermore, out of 33 engineering products, 27 witnessed positive growth during September 2021.

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Mahesh Desai, chairman at Engineering Export Promotion Council (EEPC) said, “India’s engineering exports have cumulatively increased from US$32.4 billion in April-September 2020-21 to US$52.3 billion in April-September 2021-22, registering a growth rate 61.4%. Annualising the figure means we are well on track to achieve our target of US$105 billion in FY22. In the first six months, almost 49% of the target has been achieved so we are almost half-way mark.”

US and China were the leading destinations for exports with engineering exports to these destinations equal US$ 1.29 billion and US$ 568 million in September 2021. The exports of engineering products to other countries such as Germany, Turkey, Italy, UK, Vietnam, Singapore and Mexico also witnessed positive growth. During September 2021, share of engineering goods in total merchandise exports of India stood at 26.7%.