India’s export of machines, auto parts, steel and aluminum products, internal combustion (IC) engines, pumps and other items to Russia are on the rise, with outbound shipments in the ‘engineering goods’ category double to $1.22 billion in FY24 up to February.
Cumulative engineering exports during April-February (2023-24) stood at $98.03 billion as against $96.84 billion in the corresponding period a year ago, the statement said.
economictimes.indiatimes.com
Exports to the UAE and Australia, with which India had signed an FTA, remained positive.
Till February, shipments to the UAE rose 16 per cent on-year to USD 5.22 billion, while those to Australia was higher by five per cent at USD 1.30 billion.
Saudi Arabia was the third largest market with exports of engineering items spiking 75 per cent to $4.62 billion in April-February 2023-24.
Cumulative engineering exports during April-February (2023-24) stood at $98.03 billion as against $96.84 billion in the corresponding period a year ago, the statement said.
Engineering exports to Russia doubled till February in FY'24: EEPC
India's engineering exports to Russia doubled to USD 1.22 billion in the 2023-24 fiscal, according to the Engineering Export Promotion Council (EEPC). Exports to the US fell by 7% to USD 15.95 billion, while China's shipments saw a marginal decline to USD 2.38 billion. Exports to the UAE and...
Till February, shipments to the UAE rose 16 per cent on-year to USD 5.22 billion, while those to Australia was higher by five per cent at USD 1.30 billion.
Saudi Arabia was the third largest market with exports of engineering items spiking 75 per cent to $4.62 billion in April-February 2023-24.
