India's engineering exports to China decline in Oct

India’s export of engineering goods to China declined in October 2023, even as the shipments surged to as many as 18 countries, including the US, UK, and Germany, out of the 25 top destinations that globally recorded positive growth last month.

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During this period, engineering exports to China dipped 6.4 percent year-on-year (yoy) to USD 213.2 million.

After a slump in the first half of this year, India’s engineering exports continued to record positive year-on-year growth for the third straight month in October 2023, soaring up to USD 8,094.20 million from USD 7,550.69 million in October 2022, registering 7.2 percent growth yoy, with a lower base of the previous fiscal contributing to this growth. Product groups namely ‘products of iron and steel’, ‘copper and products’, ‘electric machinery’ etc. recorded higher shipment while exports of ‘iron and steel’ and ‘aluminum and its products’ declined.