EEPC: India's engineering exports to Russia grew 11 times in April

Exports of engineering products to Russia grew 11 times over the previous year to reach $133.6 million in April this year even as the US and China markets remained soft. Engineering Export Promotion Council (EEPC) gave this information on Saturday.

Engineering exports to the Commonwealth of Independent States (CIS) in April 2022 stood at $11.7 million. Engineering goods worth $1.4 billion were exported to the US in April. Compared to April 2022 exports of $ 1.86 billion, there was a decrease of 24.9 percent. Engineering exports to China declined by 15.5 percent to $183.3 million in April 2023.

However, last month, exports to Oman more than doubled to $153.9 million compared to April 2022. India's exports to 15 of the top 25 countries for engineering goods have registered year-on-year growth.

The US, Germany, UK, France, Indonesia and Singapore account for 76 per cent of the country's total engineering exports. India's total engineering exports declined by 7.15 per cent to USD 8.99 billion in the first month of FY 2023-24 as against USD 9.68 billion in April 2022.