| Date: |
15-03-2011 |
| Subject: |
Indian Engineering Exports May Cross USD 50 Billion |
|
India's engineering exports are likely to cross the USD 50 billion mark by the end of this fiscal on the back of increasing demand in markets like North America, Africa and Middle East countries.
Commerce and industry ministry joint secretary Mr Sumanta Chaudhuri in a statement said that "India is a major exporter of light and heavy engineering goods and has a well developed and diversified industrial machinery and capital base.”
Mr Chaudhuri said that "Exports of engineering goods from India are likely to be over USD 50 billion in the current fiscal.”
Engineering exports grew by 61% to USD 38.80 billion during the April to December period this fiscal from USD 24.08 billion in the same period last year.
Out of India's total engineering exports, valued at USD 32.5 billion in 2009-10, the US and EU accounted for about 65% of the shipments. The strategy paper of the Commerce Ministry has projected that the country's engineering exports.
Source : steelguru.com
|