India’s engineering exports fell drastically in April; China & Singapore manage positive growth



Sutanuka Ghosal|The Economic Times

Only Singapore and China, out of top 25 destinations of India’s engineering exports, could manage a positive year- on- year growth in April, 2020 while the rest conceded massive contraction up to 91 per cent in some cases,due to a hugely disruptive impact of Covid-19, an EEPC India analysis has shown.

In a reflection of the scale of trade disruption, a city-nation of Singapore replaced the US as the number one destination for Indian engineering exports. The second position, just one more positive market, was China, the analysis noted.

The US has been our number one market , while the UAE, European Union countries and some our neighbouring SAARC nations were major destinations for us. But then, numbers have been turned on their head , under the Covid-19 impact. Even as the world economies are trying hard to re-open , it would be long before exports can reach a level of re-assurance,” EEPC India Chairman Ravi Sehgal said.

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