Dip in engineering exports concern exporters: EEPC

Dip in engineering exports concern exporters: EEPC

Agency News

Kolkata, May 16: EEPC India has expressed concern over dropping of exports of engineering goods sharply in recent months from India, which has affected trading for exporters.

" Virtually no growth in merchandise exports and a sharp drop of over seven per cent in highly employment -oriented engineering exports in April, 2019 is a matter of concern for Indian exporters, " EEPC India chairman Ravi Sehgal has said.He said the exporters of engineering goods have been facing global headwinds like escalated trade war, geo-political uncertainties in the Middle East and rising cost of finance and raw material at home.

The data makes it imperative for the RBI to cut the interest rates in its June credit policy review while measures like availability of raw material like steel at reasonable prices should be ensured by the government, said Mr Sehgal in a statement. (UNI)