India's engineering exports to Russia jump 11 times in April: EEPC
- IBEF
- May 22, 2023
According to the Engineering Export Promotion Council (EEPC), exports of engineering goods to Russia increased by 11 times to US$ 133.6 million in April 2023, as compared to the same month last year, while the US and Chinese markets continued to decline.
Engineering exports to the Commonwealth of Independent States (CIS) countries totalled US$ 11.7 million in April 2022. Exports to Oman more than doubled during the month to US$ 153.9 million, compared to the same month in April 2022.
During the month under review, 15 of the 25 main destinations for Indian engineering goods experienced positive year-on-year growth, while 10 countries experienced regrowth.
The top 25 nations, which include the United States, Germany, the United Kingdom, France, Indonesia, and Singapore, account for over 76% of total engineering exports from India.
Engineering products that experienced growth include copper metal products, industrial boilers, IC engines, pumps and valves, air conditioning machinery, car parts, electrical machinery, and other construction machinery.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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