India’s engineering exports up by 50%

India's engineering exports grew by about 50 per cent year-on-year.

India’s engineering exports grew by about 50 per cent year-on-year to USD 5.5 billion in December,2010,on the back of increased demand from US and Middle East markets,according to leading trade body.

“We are getting a good number of orders from the US and Middle East markets,” Engineering Export Promotion Council (EPCH) Chairman Aman Chadha said.

He,however said,the recovery in the European economy is still fragile and demand is yet to pick up.

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Out of India’s total engineering exports worth USD 32.5 billion in FY2009-10,the US and EU accounted for about 65 per cent of the shipments.

During April-December,2010-11,the exports jumped about 50 per cent to USD 37 billion,compared to the corresponding period of the previous fiscal.

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