NEW DELHI (XINHUA) – India’s exports of engineering goods grew marginally by 0.20 per cent in July, compared to the same month last year, as a weak demand was witnessed from the European Union and China, said a statement from the Engineering Export Promotion Council (EEPC) India yesterday.
Besides, an increased export duty on steel items was also among the factors decelerating India’s engineering goods exports in July, added the statement.
The country’s engineering goods exports were estimated at USD9.56 billion in July, as compared to USD9.55 billion in July 2021.
The EEPC India compiled data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S) and quick estimates published by the government of India.
Engineering exports growth in July remained in positive territory but recorded the sharpest deceleration in the last four months of the current fiscal year, added the statement.
The United States remained the top importer of Indian engineering goods in July, recording a 21 per cent growth to USD1.64 billion, as compared to USD1.36 billion in the same month last year.