Engineering exports down in April-August period of FY21: EEPC

KOLKATA: Exports of designing merchandise declined over 18 percent to USD 26 billion in the April-August time of the current monetary, EEPC India said on Monday. The Engineering Export Promotion Council of India said the shipment of such merchandise was at USD 31.9 billion in the initial five months of the past financial.

As per the committee, 28 of 33 item classes indicated a year-on-year fall in trades.

On an aggregate premise, the decrease in designing fares was 18.73 percent during the April-August time of the 2020- 21 monetary, it said.

“No doubt, the overall export market remains very challenging as the COVID-19 continues to rage the world. However, the early signals point towards a pickup in industrial activity in select countries, mostly in North Asia,” EEPC India Chairman Mahesh Desai said.

The chamber said an improvement in fares of iron, steel, copper and zinc in the initial five months of the current financial was seen.

Be that as it may, the shipment of significant worth included iron and steel items saw a 29.7 percent decline in the period, it said.

Desai said the general fares keep on staying in the negative region aside from basic base metals.