Eng exports may not hit last year's level, says EEPC

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India’s engineering exports this fiscal are unlikely to reach last year's $70 billion due to global demand slowdown, EEPC on Tuesday said. The Engineering Exports Promotion Council (EEPC) said that during April–November this fiscal, the exports declined by 14.4 per cent to $39.85 billion. “There is no question of engineering sector reaching the last year's level of $70 billion in 2015-16. We may end up the year with shipments of around $60-62 billion with hopes that things start changing for the better in the next financial year,” EEPC said. This is despite a 7-8 per cent depreciation in the rupee against the dollar as the sector battles a global slowdown.

Daily Pioneer
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