US continues to be top importer: EEPC
Shipments of engineering goods to China more than doubled to $434.6 million (about ₹3,260 crore) in November, compared to $205.3 million (₹1,540 crore) in the same month last year, sector export promotion body EEPC said on Friday.
Indian remained the top importer of engineering goods during the period with US$1196 million, registering a growth of 36.6%.
EEPC said India’s engineering exports continued to grow in November but saw a decline in the value of shipments.
Total engineering goods exports declined to $7.7 billion (about ₹57,000 crore) in November from $9.03 billion (₹67,000 crore) in October.
However, the growth of 37.1% on November 2020 exports was still substantial, which stood at $5.62 billion.
Mahesh Desai, Chairman, EEPC India, said, “The slowdown is indicating that exporters are facing volatility in world demand and uncertainty about the pandemic, which has been started by Omicron.”
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