NEW DELHI, Jan 21: Exports of aircraft and spacecraft parts from India went up by a whopping 56.77 per cent to exceed four billion dollars during April-November, 2014 over the same period in the previous year, according to an EEPC India analysis.
These exports were 2.58 billion dollars during April-November, 2013.
In fact, the breakthrough for the hi-tech export segment was witnessed in the month of November, 2014 when the shipments of the critical parts for civil aviation and spacecraft went up by over 317 per cent year-on-year at 1.16 billion dollars over 278 million dollars. “What is heartening is that they are mostly the small and medium enterprises which dominate the sector and are adopting the new technology fast catering to some of top aircraft and spacecraft manufacturers of the world,” said Mr Anupam Shah, Chairman of the EEPC India (formerly Engineering Export Promotion Council). Same is true about other technology oriented segments like IC engines and parts. Exports of these products went up by over 55 per cent to 1.67 billion dollars in April-November,2014 over 1.07 billion dollars in the same period last year.
Likewise, the industrial machinery for dairy, food processing and textiles dominated by the SMEs too witnessed over 13 per cent expansion in exports during the first eight months of fiscal 2014-15 at 3.10 billion dollars over 2.73 billion dollars during the corresponding period the previous fiscal.
Significantly, the technology oriented products are now increasing their share in the total engineering exports which aggregated 46.59 billion dollars during April-November, 2014 growing by close to 20 per cent on annualised basis.
(AGENCIES)
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