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India's engineering goods exports logs 52.4 % growth in June 2021

Indias engineering goods exports logs 52.4 % growth in June 2021

New Delhi: India's year-on-year engineering goods exports registered a growth of 52.4 per cent during June 2021,said the Ministry of Commerce and Industry on Friday.

As per an official release, the merchandise exports in June 2021 were USD 32.50 billion, as compared to USD 21.91 billion in June 2020, exhibiting a positive growth of 48.34 per cent.

With reference to June 2019, the growth witnessed (in June 2021) was 41.9 per cent.

"Engineering exports which stood at USD 6274.9 million in June 2019, and USD 5841.6 in June 2020, rose to USD 8903.5 million in June 2021. Cumulative engineering exports during April-June 2021-22 were to the tune of USD 24772.6 million, witnessing a massive growth of 82 per cent vis-a-vis April-June 2020-21, and growth of 24.8 per cent vis-a-vis April-June 2019-20," the Ministry said.

As per official data, the panels which registered a significant growth of exports during April-June 2021 vis-a-vis April-June 2019 were copper and products (250.4 per cent); iron and steel (156.6 per cent); zinc and products (83.7 per cent); aluminium and products (69.9 per cent); tin and products (55.2 per cent); two and three-wheeler (46.6 per cent); lead and products (43.4 per cent); other non-ferrous metals (33.1 per cent); industrial machinery for dairy, food processing, textiles (32 per cent); IC engines and parts (22.1 per cent); and auto components/parts (18.8 per cent).

It was also observed that, overall, the total exports (in the panels registering positive growth) rose from USD 13.72 billion in April-June 2019 to USD 19.85 million April-June 2021 (44.7 per cent).

"Among the panels witnessing negative growth during April-June 2021 (vis-a-vis April-June 2019) included industrial machinery like boilers, parts, etc (-37.5 per cent); nickel and products (-53.3 per cent); air condition and refrigerator (-22.1 per cent); motor vehicles/cars (-21.8 per cent); aircraft and spacecraft parts and products (-29 per cent); ships boats and floating products and parts (-23.2 per cent) and other engineering products relating to railway transport; prime mica and mica products; and office equipment etc," the Ministry noted.

Overall, in value terms, the release said the aggregate exports in these panels fell from USD 6.12 billion in April-June 2019 to USD 4.73 billion April-June 2021 (- 22.7 per cent).

Further, the automobile sector (comprising of motor vehicles/cars, two and three-wheelers and also auto components/parts) registered a growth of 1.7 per cent in the first quarter of the current year vis-a-vis the same period of 2019-2020.

With reference to the first quarter of 2020-21, the growth in exports in the current year in the sector is seen to be 195 per cent. "This is primarily due to sharp jump in exports of two and three wheelers (by 279 per cent); Motor Vehicles/Cars (by 159 per cent); and Auto components/parts (by 204 per cent)," added the Ministry.

(With agency inputs)

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TAGS:India engineering goods growth 
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