India's engineering exports on track to hit record $150B
What's the story
India's engineering exports are on course to hit a record high of $150 billion in the current fiscal year, according to Pankaj Chadha, Chairman of the Engineering Export Promotion Council (EEPC). The figure is a significant jump from last fiscal's exports which stood at $122 billion. Chadha attributed this growth to strong demand in markets like the US and increased shipments in sectors such as iron and steel products and machinery.
Growth trajectory
Engineering exports in first half stand at over $70B
In the first half of the current fiscal year, India's engineering exports have seen a healthy growth rate of around 20%.
The total value for this period stands at $70.87 billion.
Chadha added that increasing exports in sectors like iron and steel and their products and machinery would help shipments.