Engineering exports down 18% to $26 bn in April-August period of FY21: EEPC

Exports of engineering goods declined over18 per cent to $26 billion in the April- August period of the current fiscal, EEPC India said on Monday

Exports of engineering goods

declined over 18 per cent to USD 26 billion in the April- August period of the current fiscal, EEPC India said on Monday.

The Engineering Export Promotion Council of India said the shipment of such goods was at USD 31.9 billion in the first five months of the previous fiscal.

According to the council, 28 of 33 product categories showed a year-on-year fall in exports.

On a cumulative basis, the decline in engineering exports was 18.73 per cent during the April-August period of the 2020-21 fiscal, it said.

"No doubt, the overall export market remains very challenging as the COVID-19 continues to rage the world. However, the early signals point towards a pickup in industrial activity in select countries, mostly in North Asia," EEPC India Chairman Mahesh Desai said.

The council said an improvement in exports of iron, steel, copper and zinc in the first five months of the current fiscal was witnessed.

However, the shipment of value-added iron and steel products saw a 29.7 per cent decrease in the period, it said.

Desai said the overall exports continue to remain in the negative territory except for critical base metals.