EEPC India Engineering goods on way to reaching US$107 billion mark in FY22: EEPC India
New Delhi/IBNS: Engineering goods sector remains one of the main growth drivers of exports from India and going by the trend in April-July period of the current fiscal, annual target of US$107 billion looks quite doable, said Engineering Export Promotion Council (EEPC) India Chairman Mahesh Desai.
Growing at rapid pace with robust demand from traditional markets, the engineering goods exports jumped 42.59% in July, 2021 as against corresponding month a year ago.
"With pandemic situations on the ebb and strong recovery seen in European and American markets, the sector is very much on the sustained recovery path. We hope the momentum would continue and the sector closing the year on a very positive note," stated Desai.
"Some of the issues like high steel prices and a spike in logistics costs have affected the competitiveness and need government attention," he added.
Exports have emerged as the key engine of growth supporting the economy and the government has laid out plans to seize the opportunity providing support through fiscal and monetary measures.
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