NEW DELHI, May 14: Growing demand from South Asia and Latin America helped push up engineering exports, which grew 8.3 per cent in April to USD 5.2 billion, according to industry officials.
Engineering exports were USD 4.8 billion in April last year.
“The country-wise data has not been finalised. But, you can attribute it (growth) to the growing demand from Latin America and South Asia,” Engineering Export Promotion Council Executive Director R Maitra said.
In 2011-12, the export growth at USD 60 billion was mainly from the US, Singapore, UAE and China.
“So far, western countries especially the US seems to be doing well. In 2012-13, its difficult to say,” said another EPCH official, adding that engineering export growth of 15-20 per cent is expected in 2012-13 at about USD 72 billion.
However, the sectoral target would be set once the Commerce and Industry Ministry releases the Foreign Trade Policy, he said.
As per the trend since 2004-05, export share of the 27- nation European Union, North America has been declining while Latin America and South Asian nations have become major destinations of Indian engineering products.
India’s overall exports last month were USD 24.5 billion. (PTI)
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