Indias engineering exports drop 19% in April
The Dollar Business Bureau India’s engineering exports to major international markets including the UAE, China, and Sri Lanka plunged by 19 percent in April this year, according to Engineering Export Promotion Council (EEPC). In April, overall engineering exports shrank by 6.74 percent to $20.5 billion due to sharp fall in shipments of petroleum and engineering products. The country’s engineering imports also plummeted by 23.1 percent to $25.41 in April this year as against $33 billion during the same month last year. According to the engineering body, India’s engineering exports to Sri Lanka have nosedived around 90 percent to 63 million in April this year as against $648 million in the same month last year. The shipments of engineering goods to ...
Govt working on single-window clearance to ease trade
The Dollar Business Bureau The Government of India is working on a mechanism of single-window clearance, in order to achieve smooth trade flow as well as to enhance the ease of doing business. “The government is committed to provide every possible help to the trade and industry and considers them as a partners and stakeholders in the economic revival of India,” said Anup Wadhawan, Director General of Foreign Trade (DGFT), while speaking to exporters at an event in Ludhiana. With regards to MEIS (Merchandise Exports of India Scheme), DGFT stated that since the Scheme has been announced on April 1, 2015, an additional Rs.4,000 crore have been laid out to cover more markets and tariff lines. As and when government issues ...
Demand slump in neighbouring countries hits Indias engineering exports
The Dollar Business Bureau India’s engineering exports has been witnessing a steep fall in the last couple of months mainly due to the demand slowdown in the neighbouring countries. As per the latest data released by the government on Thursday, India’s exports of engineering products registered a negative growth of 22.81% in September this year compared to the figure of the same month a year ago. However, the rate of decline was less than that of August when it went down by 29.5% year-on-year. In a recent analysis based on August trade data, engineering export promotion body EEPC India said that the country’s shipments to neighbouring markets including China and Sri Lanka have witnessed a massive fall. “India’s engineering exports to its ...
