India's engg exports to neighbouring countries rise in Apr-Aug

India's engineering exports to three of its neighbours, including Sri Lanka, Nepal and Bangladesh, witnessed top of the line growth in April-August, with South Asia emerging as an important market for the country's shipments, according to EEPC India.
The three countries in South Asia are in the top 25 destinations of India's engineering exports with Sri Lanka occupying the coveted number three position preceded by the US and UAE between April-August this year.
"South Asia, with the exception of Pakistan, is emerging as an important market for Indian exports. Significantly, these markets are now giving us volume and scale in valuation as well despite these economies being small," engineering exporters' body EEPC India Chairman Anupam Shah said.

Sri Lanka received Indian engineering shipments worth USD 1.53 billion in the first five months of the FY 2014-15, which is third highest in valuation, recording an impressive growth of 96.80 per cent over the same period last fiscal.
The combined growth as a grouping of South Asia was 60 per cent for the period under review with Nepal logging in annualised growth of 49.21 per cent (USD 595.76 million) and Bangladesh 25.29 per cent (USD 615.91 million).
The top 25 destinations account for 74 per cent of the total engineering exports, which were USD 62 billion in 2013-14 and are poised to reach USD 70 billion in 2014-15.

The country's total engineering exports for April-August this fiscal aggregated USD 28.9 billion registering year-on- year growth of 24 per cent of which the top 25 destinations accounted for USD 21.32 billion logging in expansion of 29.42 per cent.