New Delhi, Dec 24 : India’s engineering goods shipments to China more than doubled in November this year to $434.6 million, the Engineering Export Promotion Council India said on Friday.
In November 2020, exports of such goods were worth $205.3 million, the council said.
The US, however, remained the top buyer of Indian engineering goods at $1,196 million during the month, registering a growth of 36 per cent.
The EEPC also said that it is important to note that after four months of continually hitting almost the $9 billion mark, total engineering exports volume in November came down to around $7.7 billion.
“The slowdown seems 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.”In this situation the exporters need complete support within the country such that they may remain competitive even during the upcoming uncertainties.” The EEPC urged the Centre to look into matters such as growing inflation, rising raw material prices as well as logistics issues, scarcity of containers, with an urgency.ad-
India’s exports of engineering products to China more than double in November: EEPC India
The slowdown may be a sign of the difficulties exporters face due to volatility in global demand and uncertainty about the Omicron pandemic.”Experts all over the world have predicted that although the worldwide trade growth has been remarkable, it will not be the same across countries,” Mahesh Desai, Chairman of EEPC India said.Exporters in this circumstance need to be supported by the government so that they can remain competitive, even with the uncertainties.
The EEPC urged Centre officials to investigate urgently issues such as rising inflation, increasing raw material prices, logistics problems, and scarcity of container.
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