Kolkata: Engineering goods exports rebounded in November despite tariff headwinds, rising 23.7 per cent year-on-year to around USD 11.01 billion after a steep fall in October, industry body EEPC India said on Monday. Exports of engineering goods stood at USD 8.9 billion in November last year, it said. Cumulatively, engineering exports grew 4.25 per cent year-on-year to USD 79.74 billion during April-November in the current fiscal, EEPC India Chairman Pankaj Chadha said.
Terming the November performance encouraging, Chadha said the rebound came even as the 50 per cent punitive tariff imposed by the Donald Trump administration continues to impact a large part of India's export basket. "The strong performance in November reflects the resilience of the Indian engineering industry and its ability to adapt quickly to a challenging global trade environment, supported by consistent government intervention," he said.
Looking ahead, Chadha said the sector is optimistic about diversifying export markets, aided by several trade agreements currently under negotiation, which are expected to help Indian engineering exporters expand their global footprint. He added that the industry is also awaiting final guidelines for the Rs 25,060-crore Export Promotion Mission, which is expected to provide further impetus to shipments.
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