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Macroeconomic indicators - Indian engineering exports decline
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Friday, 02 Nov 2012

Press Trust of India reported that engineering exports declined by about 10% to USD 27.81 billion in the H1 of the current fiscal due to slowdown in major western economies.

The exports had totaled USD 30.89 billion in April to September period of the last fiscal. The decline was 8.2% in September.

Mr Aman Chadha chairman of EEPC India said that “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.”

Mr Sumanta Chaudhuri joint secretary in the Commerce Ministry stressed upon diversification of destinations to deal with the ongoing slowdown in major markets.

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

To promote engineering exports, EEPC India in association with Ministry of Commerce and Industry organizes India Show in different parts of the world. The last India show was organized at Brno, Czech Republic in September.

Mr Miloslav Stasek ambassador of Czech Republic, who was also present at the press conference, said that his country attaches highest importance to economic engagements with India.

Source - Press Trust of India


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