India's Engineering Exports Moved to 5.5 billion Dollars
India's engineering exports grew by about 50 per cent year-on-year to 5.5 billion dollars in December 2010.
Engineering Export Promotion Council (EPCH) declared in end January 2011 that India's engineering exports grew by about 50 per cent year-on-year to 5.5 billion dollars in December 2010. The growth in the export of engineering goods was possible due to an increased demand from the US and Middle East markets. However the European market stuck hard by the crisis could not facilitate such engineering exports.
Out of India's total engineering exports worth 32.5 billion US dollars in 2009-2010, the US and EU accounted for about 65 per cent of the shipments. The exports rose 50 per cent to 37 billion dollars compared to the corresponding period of the previous fiscal. Engineering exports include heavy engineering goods, transport equipment, capital goods, other machinery equipment and light engineering products like castings, forgings and fasteners.