Engineering exports grow by over 18pc in Jan

    Kolkata, Feb 10 (PTI) The country's engineering
exports have increased by 18.69 per cent in January this year
and demand for such products in the international markets is
expected to be steady in the remaining two months of the
current fiscal, an industry body said on Wednesday.
    Engineering Export Promotion Council of India said
shipments for January 2021 have gone up to USD 7,174.43
million from USD 6,011.43 million in the same month last
fiscal, raising the prospects for February and March.
    "The government has extended a helping hand to
engineering exporters in the Union budget by taking measures
aimed at reining in prices of steel, the key raw material.
Exporters have navigated the post-COVID global market with
innovative offerings to their buyers," EEPC India chairman
Mahesh Desai said.
    According to an assessment by the EEPC India, a
recovery in the external demand has been witnessed in the past
few months in markets of the US and Europe, besides several
key Asian economies, he said.
    Engineering exporters had faced headwinds even in
December for high steel prices, he said.
    "Market diversification, helped by the PLI scheme,
would go a long way in scaling up the engineering exports
which contribute about 25 per cent of the country's total
merchandise export basket," Desai said in a statement. PTI BSM
BDC BDC

(This story has not been edited by THE WEEK and is auto-generated from PTI)