Engineering goods exports have again crossed $9 billion mark with October shipments registering high double-digit growth. The robust performance by the sector means greater support to the economy as it will create more jobs and fresh capital investment, said EEPC India chairman Mahesh Desai.
Engineering goods exports stood at $ 9.38 billion in October, 2021 registering 28% growth over $ 6.2 billion in the same month last year.
“At this rate of growth, we may exceed exports targets for the current financial year. A resurgence in Covid infections in some countries in the West certainly pose some downside risks but we remain bullish. In the coming months, logistics situation should ease and further push the growth momentum,” said Desai.
He noted the rising prices of primary metals and container shortage as major concerns for engineering goods exporters.