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Export of engineering goods drops 14.6% in Nov

Engineering goods exports declined sharply by 14.60 per cent month-on-month in November.

Engineering goods exports declined sharply by 14.60 per cent month-on-month in November,raising questions on the sustainability of recovery in exports.

According to engineering exporters’ body EEPC India,engineering export basket,which covers a variety of items ranging from automobiles,iron & steel and components of nuclear reactors and spacecraft,stood $4.78 billion during the month compared to $5.6 billion in October.

“What is causing more concern is that they have declined month on month … raising doubts whether recovery which began in the second quarter of this fiscal can be sustained,” Anupam Shah,chairman,EEPC,said.

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First published on: 18-12-2013 at 01:24 IST
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