: Indian engineering exports to China doubled in Nov #finance #StockMarketNEWS #Business New Delhi: Engineering goods shipments to China has more than doubled in November, 2021 to US$ 434.6 million

Posted in: #finance #StockMarketNEWS #Business

Indian engineering exports to China doubled in Nov #finance #StockMarketNEWS #Business
New Delhi: Engineering goods shipments to China has more than doubled in November, 2021 to US$ 434.6 million (Rs 32,60 crore approximately) as compared to US$ 205.3 million (Rs 1,540 crore) in the same month last year, sector export promotion body EEPC said on Friday.

The US, however, remained the top importer of Indian engineering goods at US$ 1196 million during this period, registering a growth of 36.6 per cent over US$ 875 million in November, 2020.

The UAE was the third biggest market for Indian engineering goods with a total shipment value of US$ 404.4 million in the previous month.

India’s engineering exports continued to grow in November 2021 but a decline was observed in the value of shipment, EEPC said. However, total engineering goods exports slowed down to US$ 7.7 billion (Rs 57,000 crore approx) in November from 9.03 billion (Rs 67,000 crore in October 2021).

However, the growth was still substantial at 37.12 per cent over the exports of November 2020 at US$ 5.62 billion.

“The slowdown seems to be indicating the distress exporters are facing given volatility in world demand and the uncertainty regarding the pandemic which has been

triggered by the new variant Omicron. Experts around the globe have already predicted that while the global trade growth is remarkable it is not even across the countries,�? EEPC

India Chairman Mahesh Desai said.
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