Key Points
Indias engineering exports to 17 out of 25 key markets such as the US and China declined in the month of February 2023 primarily driven by the global economic slowdown and low demand for metals and metal products...
Exports to the US registered positive year-on-year growth of 10.8% in the first 11 months of the current fiscal...
On a cumulative basis, India's engineering exports to China sank 54% year-on-year to US$ 2.4 billion in the April-February period of 2022-23...
Cumulative engineering exports for April-February 2022-23 also conceded a 4.24% decline over the same period last fiscal as it dropped to US$ 96.85 billion from US$ 101.14 billion in April-February 2021-22...
Major engineering products like iron and steel, products of iron and steel, non-ferrous metals like aluminum, nickel, lead, tin, and other products, industrial boilers, IC engines and parts, air-conditioning and refrigeration machinery, machinery for dairy, electrical machinery, and equipment, motor vehicles/cars, two & three wheelers, bicycle parts, auto tyres, and hand tools witnessed a decline in exports during February 2023 vis--vis February 2022...
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