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Date: 04/10/2024

Engineering exports beat global crises due to Russia, China, Saudi Arabia

India’s engineering goods sector has been able to beat the global crises – Red Sea, Ukraine and Israel-Hamas – with the support of Russia, UAE, Saudi Arabia and, surprisingly, China, according to data provided by the Engineering Export Promotion Council (EEPC). Total engineering exports in the April-August period of the current financial year were valued at $46.41 billion, up 4.22% from $44.53 billion in the corresponding period of 2023-24. Russia has bought 40% more. India’s engineering exports to China increased 11.3%, crossing the $1-billion mark. UAE bought 44% more engineering goods in April-August 2024. On the back of this encouraging performance, EEPC has projected India’s engineering exports for the full year 2024-25 to be between $115–122 billion, compared with $109.32 billion in 2023-24, as per a report.
 
Source; Exim News Service; New Delhi, Oct. 3



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