India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October

India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October

NEW DELHI: Exports of engineering products from India witnessed growth from countries such as the US, Saudi Arabia, and the United Arab Emirates (UAE) during October but contracted from several nations in the European Union (EU), China, and Southeast Asia, according to government data. After a slump during the first half of this year, India’s […]

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via India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October

NEW DELHI: Exports of engineering products from India witnessed growth from countries such as the US, Saudi Arabia, and the United Arab Emirates (UAE) during October but contracted from several nations in the European Union (EU), China, and Southeast Asia, according to government data.

After a slump during the first half of this year, India’s engineering exports recorded positive year-on-year growth for the third straight month in October at 7.2 per cent, even as the cumulative growth in exports of such products during the first seven months of the current financial year (2023-24) saw a 1.6 per cent contraction.

“The slump in demand in developed countries, especially the EU, has