Engineering Exports - Higher Metal Prices Driving Growth: Nirmal Bang

Workers unload steel rods from a ship at the container terminal. (Photographer: David Paul Morris/Bloomberg)

Engineering Exports - Higher Metal Prices Driving Growth: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Nirmal Bang Engineering Export Promotion Council - Conference Update- 15 June 2021.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.