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Date: 14/11/2024

Trump presidency seen boosting India’s engg exports
 
Donald Trump’s victory in the US presidential elections will boost engineering exports from India,  by an additional 5% over the coming years, said Mr Arun Kumar Garodia, Chairman of Engineering Exports Promotion Council (EEPC). There will be an increase in the export of iron and steel products, electrical machinery, automotive, auto components and EVs to the US. Currently, the US is the largest market for India’s engineering exports, accounting for a share of 16%, followed by the UAE and Saudi Arabia at 5.4% and 4.8%, respectively. India’s engineering exports stood at a value of $109 billion in FY24. According to Mr Garodia, engineering exports will hit more than $118 billion this fiscal year (FY25). They were to the tune of $56 billion until Sept. of 2024-25, as per a report.
 
Source: Exim News Service: New Delhi, Nov. 13



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