The exports grew by 170 per cent between April and June 2013
Picture used for representational purpose. (photo: PTI/File)
Mumbai: Exports of aircraft and spacecraft components grew 170 per cent between April and June 2013 and April-June 2014 providing strong headwinds for the engineering exports sector to expand overall by 24.15 per cent to $16.94 billion year on year.
The next best performer was metals and minerals followed by passenger cars, two and three wheeler. The auto parts segment grew an average of 22 to 27 per cent at $3 billion in the April-June period of the current fiscal according to an analysis by the EEPC India.
Ship boats and floating bodies also showed a good growth of 22.72 per cent. Most of the business for aircraft and auto components came from North America at 33.17 per cent at $2.24 billion, Europe 16.59 per cent at $ 2.85 billion and West Asia and South Asia at 72 per cent and 73 per cent respectively.
“The trend shows that we are progressing fast as a reliable source of supply for high-tech and valued products in the highly competitive engineering sector,” said Anupam Shah, chairman of EEPC India.
He said except for some Asean countries “we are receiving good orders from most other markets, clearly indicating a performance turnaround in the global economy.”
( Source : dc correspondent )
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