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Engineering exports to Israel grow six times in April 2017

Shipments of goods have gone up significantly to $146.42 million in April

Press Trust of India  |  Mumbai 

Photo: Shutterstock
Photo: Shutterstock

to grew up by more than six times in April this year over the same month in 2016, a key economic development which augurs very well for the Prime Minister Narendra Modi's impending visit to the country, engineering exporters' apex body India said in Mumbai on Thursday. According to EEPC, as against of just about $20 million in April 2016, the shipments of these goods have gone up significantly to $146.42 million in April this fiscal, which is a whopping 640 per cent or more than six times growth. Moreover, ranks at 12th position among India's engineering export destination and has figured prominently among the top 25 destinations, according to the latest data analysis done by the India. "It is a matter of great satisfaction that to are doing so well, just ahead of the Prime Minister Modi's impending visit.

The fact that Modi would be the first Prime Minister to visit is a great positive for the Indian industry and exporting community," India Chairman TS Bhasin said. He further said the Indian engineering industry can enhance its level of engagement with in a number of high-tech areas like defence production, steel, automobile and auto components, aircraft components and ship-building and ship boats. In fact, the bulk of the to for the month of April are listed against the broad group of ships, boats, floating structures and parts, which is nearly $122 million, the apex body said. "We need to diversify our export basket to Israel; no doubt and would be working towards that end," Bhasin added.

First Published: Thu, May 25 2017. 15:42 IST