Engineering exports 59 percent in Aug 21 over Aug 20

Engineering goods exports continued its strong uptrend and rose 59% year-on-year in August to US$ 9.64 billion as compared to US$ 6.06 billion in the same month a year ago showing recovery holding ground, said EEPC India Chairman Mr Mahesh Desai.

"The various policy measures taken by the government such as notification of RoDTEP rates and promise to clear all pending dues on account of various export promotion schemes would strengthen the growth further," Mr Desai said.

He further said that the government had walked the talk on most issues and hopefully the issue related to reimbursement of taxes embedded in raw-material like steel in the engineering products would also be resolved soon.

"There are issues such as high raw material costs and spike in logistics charges which continue to hurt the industry. But we have been given to understand that they are being looked at by the government," the EEPC Chairman said.