India's engineering exports see mixed fortunes in June; trade with Russia surges: EEPC

India's engineering exports declined by 11% YoY to $8.53bn in June 2023, with shipments to the US, the EU, and China leading the drop, according to the Engineering Exports Promotion Council of India (EEPC). Exports to the US fell to $1.45bn, a 12.5% dip; to the EU slumped by 16.2% to $1.51bn and to China fell by 20% to $184m. However, exports to Russia reached $116.9m in June, with a four-fold surge in YoY exports cumulatively from April to June, totalling $337.4m. EEPC said the global steel demand slowdown was the key reason for the downturn.

from Economy-News-Economic Times https://ift.tt/paFRHyS
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