Business Standard reported that India's engineering exports dropped by 8.2% YoY to USD 4.4 billion in September 2012 due to sluggish demand in major markets like the US and Europe.

According to data released by the Engineering Export Promotion Council, in September, last year, these exports stood at USD 4.8 billion.

An EEPC official said that "The exporters are getting lesser number of orders due to weak demand in western markets like the US and Europe."

Official said that given the present slowdown, this trend is expected to continue for at least for another two months. The US and Europe together account for over 60% of India's total engineering exports.

During April to September 2012-13, engineering exports dipped 10% to USD 27.8 billion compared to the same period last year.

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

Source - Business Standard

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