In October, Indian engineering exports to key markets, including the US, UK, and UAE, experienced positive growth, according to the Engineering Exports Promotion Council (EEPC) India.
The US recorded a 2.2 percent YoY increase, reaching USD 1391.5 million, while Germany saw a substantial rise of 20 percent at USD 342.7 million. Overall, engineering exports from India in October amounted to USD 8,094.20 million, marking a 7.2 percent YoY increase.
However, cumulative engineering exports for April to October 2023 registered a 1.61 percent decline. EEPC highlighted challenges faced by the metal sector due to reduced demand in developed countries, primarily the European Union, and market barriers impacting Indian exporters.
