Risk against India's engineering exports

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Chennai, Ta. 10 November 2020, Tuesday

Producers are worried that exports of engineering goods from the country will fall again in the wake of a forced lockdown as corona cases continue to grow in Europe.

Europe is the third largest hub in terms of India's export volume of engineering goods. Exporters are worried that sales in Europe will decline after good sales in September. Germany, France, Italy are the major importers of India.

Corona's second wave in Europe is worrisome, said an exporter of engineering goods. Our sales have not been affected as there are no trade restrictions to date but extensive social sanctions have been imposed in Europe.

"Even though trade is closed during the Christmas holidays, we now have to adopt a wait-and-see policy," he added.

An official from the Engineering Export Promotion Council said sales were expected to decline in November. While most companies exporting engineering goods operate at 5 to 20 per cent of capacity, the second wave is a matter of concern in Europe, he added.

Exports of engineering goods from India stood at 2.81 billion in FY2017-20.

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