India aims to shore up engineering exports to Russia
The Dollar Business Bureau The Ministry of Commerce and the Engineering Export Promotion Council (EEPC) are devising a strategy to push up the engineering exports to Russia, where economic mood is expected to get better with the improvement in crude oil prices. The economy of Russia is highly dependent on crude oil exports. In the wake of a sharp decline in crude price, Russia’s import of engineering products from India had declined to half in value at $355 million during period April 2015 to February 2016, from $744 million in 2014-15, EEPC said a release. With the improvement in global crude oil prices and its positive effect on oil producing countries, EEPC India believes that this is a suitable time to reverse the ...
