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Date: 29/04/2024

Engineering exports rise 
 
India’s engineering goods exports, including steel and machinery, rose 10.7% year-on-year in March 2024 to a value of $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, according to Engineering Export Promotion Council (EEPC). Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023-24 financial year, to $109.3 billion from a year earlier. Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought about by conflict in the Middle East. Engineering exports to the US, a key market, declined 5.7% year-on-year to $17.62 billion in 2023-24, as per a report.
 
Source: Exim News Service: New Delhi, April 28



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