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The US Government shutdown would badly hit India's engineering exports to the country, Anupam Shah, Chairman, EEPC India, an engineering export promotion body, has said.
According to him, a shutdown, which has been announced by the US Government today after the Republicans and the Democrats could not take decisions on spending and budget, would substantially reduce the demand.
“As the US economy closes down, our exports might slow down as well. The consumers will be spending less and individuals will be left without pay, (resulting in a sharp decline in demand),” Shah said at a press conference here on Tuesday.
Between April and August this year, engineering exports to the US declined nearly 12.3 per cent compared with the corresponding period last year, he added.
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