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Engineering goods exports to China doubles in Nov
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SME Times News Bureau | 24 Dec, 2021
India's engineering goods shipments to China more than doubled in
November this year to $434.6 million, the Engineering Export Promotion
Council India said on Friday.
In November 2020, exports of such goods were worth $205.3 million, the council said.
The
US, however, remained the top buyer of Indian engineering goods at
$1,196 million during the month, registering a growth of 36 per cent.
The
EEPC also said that it is important to note that after four months of
continually hitting almost the $9 billion mark, total engineering
exports volume in November came down to around $7.7 billion.
"The
slowdown seems indicating the distress exporters are facing given
volatility in world demand and the uncertainty regarding the pandemic
which has been triggered by the new variant Omicron. Experts around the
globe have already predicted that while the global trade growth is
remarkable it is not even across the countries," EEPC India Chairman
Mahesh Desai said.
"In this situation the exporters need complete
support within the country such that they may remain competitive even
during the upcoming uncertainties."
The EEPC urged the Centre to
look into matters such as growing inflation, rising raw material prices
as well as logistics issues, scarcity of containers, with an urgency.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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