India’s engineering exports to the U.S. tumbled nearly 10 percent year-over-year in the first eight months of the current fiscal year (2013-14), the Engineering Export Promotion Council of India said in a statement on Friday.
“The shipments to the U.S. dropped by 9.19 percent to $3.9 billion during April to November this fiscal from $4.3 billion and the country is among India’s largest destination,” EEPC India said.
In the same period, India’s engineering exports to Germany fell about 6 percent from a year earlier to $1.3 billion.
“The signs of recovery in some of the key Western countries like the U.S. are hazy. This way, there was a drop in overall engineering exports by over 14 percent in November,” EEPC India said.
The trade promotion body said engineering exports to some of the countries that have free trade agreements with New Delhi registered a “healthy” growth in the eight-month period. Engineering shipments to Japan totaled a record $568 million, up 17 percent from $485 million a year earlier.
Exports to South Korea expanded over 13 percent to $739 million.
“The Japanese economy is doing rather well, while the manufacturing base in South Korea kept the momentum alive despite problems in the West,” EEPC India said.