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Indian engineering exports continued on the high growth track in June 2021 posting a rise of 52.4 per cent (year-on-year) to $8.9 billion with increase in shipments of panels of copper, aluminium, steel, zinc and tin.
Cumulative engineering exports during the first quarter of fiscal year 2022 (Q1FY22) increased 82 per cent to $24.77 billion, compared to the same period last fiscal, and recorded a growth of 24.8 per cent compared to the same period in FY20, according to an official release of the Engineering Exports Promotion Council (EEPC).
Growth segments
The panels which registered significant growth of exports during April-June 2021 compared to the first quarter of 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-wheelers (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 and parts (18.8 per cent).
Drop in exports
Panels witnessing a fall in exports during April-June 2021, compared to April-June 2019, included industrial machinery like boilers, parts (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), aircrafts 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.
The automobile sector (comprising 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 compared to the same period of 2019-2020.
“With reference to the first quarter of 2020-21, the growth in exports in the current fiscal in the sector is 195 per cent. This is primarily due to a 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),” the release stated.
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