Engineering exports up 20% at $ 6.5 bn in September

High demand in South Asia, Iran Turkey and Jordan propels shipment values

India's engineering exports grew by over 20 per cent year-on-year to $6.48 billion in September on account of high demand particularly in South Asia and West Asian nations.

In September last year, these exports were at $5.38 billion, according to the Commerce Ministry data.

According to engineering exporters' body EEPC India, in the current fiscal, three countries in South Asia are in the top 25 destinations of India's engineering exports.

India's engineering exports to Iran, Turkey and Jordan too have witnessed a healthy growth, EEPC India has said.

The sector contributes about 25 per cent in the country's total outbound shipments.

It helped push India's exports, which rose by 2.73 per cent to $28.9 billion in September.

The country's total engineering exports for April- September this fiscal aggregated to about $35 billion.

Engineering exports include transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.

The other sectors which recorded a healthy growth in September include rice (17.7 per cent), coffee (13.39 per cent), marine products (13.3 per cent), mica, coal and other ores (7.88 per cent), leather (13.72 per cent), gems and jewellery (11 per cent) and textiles (16 per cent).

To further boost the country's exports, the government is expected to announce fiscal and non-fiscal incentives in the forthcoming foreign trade policy (FTP). It is expected to be released next month.