India’s engineering exports to China double

EEPC India said that India’s engineering exports to to China rose by 128% yoy to US$ 4.8 billion in the financial year 2020-21, despite the relations between the two countries hitting a trough after a skirmish in Galwan. This momentum continued in April this year. Further, India’s engineering exports to 23 out of 25 key markets, including US, China, Germany and Italy showed a positive trend  in the first month of FY21 amid overall growth in merchandise trade owing to low base of the previous year.

The US continued to be the biggest market for India’s engineering exports followed by China according to EEPC India. India’s exports to USA rose 400% in the first month of fiscal 2021. However, exports to Malaysia and Singapore slipped in April. 32 engineering goods saw positive growth this year. The exports of iron and steel grew 210% yoy in April while the non-ferrous segment which includes aluminium, zinc, nickel, lead, tin and other products grew by 110% during the period.