Indian engg exports to Iran, Turkey, Jordan see big jump: EEPC

India's engineering exports to Iran, Turkey and Jordan - countries which share border with strife-torn Iraq - witnessed a remarkable year-on-year growth in July, according to EEPC India.
The engineering exports to the three neighbours of Iraq in July were USD 343 million, as against USD 141 million a year ago.
For the first four months (April-July) of 2014-15 fiscal, the outbound shipments to these destinations was close to USD 1.4 billion - more than double in the year-ago period.
While the Northern parts of Iraq and Syria have turned into war zones, the bordering Turkey witnessed 89 per cent expansion in engineering exports from India to USD 155 million in July, from USD 82 million a year ago.

For the April-July period, engineering exports to Turkey grew 106 per cent to USD 638 million from USD 309 million in the comparable months of the previous fiscal, EEPC India said.
"Fortunately, Turkish economy has not been affected by the war in Northern Iraq and Syria. Turkey has been one of the impressive emerging market economies pursuing reforms. Besides, though there is a low base of trade with Iran and Jordan we have witnessed a big growth in exports to them in recent months," EEPC India Chairman Anupam Shah said.

The surprise pack in the region has come from Jordan that shares its border with Syria as well as with Iraq. Shipments to Jordan in July this year rose 67 per cent to USD 11 million from USD 6.59 million in the same month of 2013-14.

The performance during the April-July period was even more pronounced during which engineering exports to Jordan went up manifold to USD 340 million, from a mere USD 27 million a year ago.
"West Asia as a whole has been giving us good demand along with the European countries, though some key European nations are still grappling with slowdown," Shah said.
Notably Iran, with which trade could not been done in a smooth manner earlier because of the US sanctions, is now giving a big market to Indian engineering exporters. The consignments to that country, which too shares a large border with Iraq jumped over 100 per cent to USD 419 million during the April-July period.

For July, the outbound shipments to Iran witnessed a large increase of 240 per cent to USD 177 million, from USD 52 million in the previous year.