Key Points
India's engineering exports declined by 11% YoY to $8.53bn in June 2023, with shipments to the US, the EU, and China leading the drop, according to the Engineering Exports Promotion Council of India (EEPC)..
However, exports to Russia reached $116.9m in June, with a four-fold surge in YoY exports cumulatively from April to June, totalling $337.4m..
India's engineering exports to major markets like the United States, the European Union (EU) and China continued to decline in June 2023, reflecting a challenging global trade environment, EEPC India said..
The country's shipments to West Asia and North Africa (WANA), North East Asia, and CIS countries, however, showed positive growth during the same period, the Engineering Exports Promotion Council of India (EEPC) said.. India's engineering exports declined for the third straight month in June 2023, falling 11 per cent year-on-year to USD 8.53 billion...
Major engineering products such as iron and steel, most non-ferrous products (excluding copper, nickel, and lead products), industrial machinery and parts, two- and three-wheelers, auto components and parts, auto tyres, railway transport, and hand tools saw declines in exports during June 2023 compared to June 2022...
