Blitz Bureau
NEW DELHI: Engineering goods exports went up 4.34 per cent to $27.93 billion in the April-June quarter (year-on-year), from $26.77 billion in the same period a year ago, a report said on July 29. Among the top destinations of Indian engineering goods, shipments to countries such as the US, UAE, Saudi Arabia and the UK increased during the June quarter of the current fiscal, according to EEPC India.
Indian engineering exports in May bounced back and then recorded double-digit growth in June at 10.27 per cent (on-year).Engineering exports in June rose to $9.39 billion from $8.52 billion in June last year.
“The Free Trade Agreement (FTA) with the UAE has proved beneficial for the engineering export community and we feel that the ongoing FTA negotiations with GCC once concluded would further favour the community,” said Arun Kumar Garodia, Chairman, EEPC India.
The global goods trade in the first quarter of 2024 increased by 1 per cent (year-on-year) and is expected to rise further in the coming months.
“This would be favourable for India’s exporting community too,” Garodia added.
