Engineering Exports - Higher Metal Prices Driving Growth: Nirmal Bang
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Nirmal Bang Report
We hosted Mr. Suranjan Gupta, Executive Director, Engineering Exports Promotion Council at our Virtual Investor Conference to get insights about the outlook for engineering exports.
Following are the key highlights from the session:
Engineering exports account for a fourth of exports from India. Electronics and telecom do not come under the ambit of EEPC.
Main markets for engineering exports are the U.S. and Europe (30%). Association of Southeast Asian Nations and China are emerging markets, particularly for steel.
Q1 FY21 was badly impacted by lockdown, but there was a strong comeback in H2 FY21. Ended FY21 with exports of ~$73 billion (down by ~3%) as against $76 billion in FY20.
Engineering exports touched $80 billion few years back but the performance has not been great since then.
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