Engg exports slip 21% to $3.33 bn in June: EEPC

According to latest data released by Engineering Export Promotion Council (EEPC), India’s engineering exports has slipped nearly 21% to touch $3.33 billion in June 2009, as compared to $4.21 billion in the corresponding month last year owing to a slack demand from major global markets like the US and the EU.

EEPC says that engineering exporters are not hopeful of a near time recovery in demand in the international market as the trend is looking bleak. The order book is quite weak as very few exporters are getting orders from the US.

Exporters see silver lining in the large stimulus packages announced by the governments in the major markets expecting a revival in demand. In sync with the international trade situation, India’s overall exports have been on a slippage for the last ten months.