New Delhi, Apr 3 (KNN) Engineering Export Promotion Council (EEPC) India expressed their deep and serious concern over the ongoing trade conflict between US and China.

Since both the countries are India’s top export destinations for engineering goods therefore it has become a matter of concern as it will affect India’s trade benefit.

According to the data collated by the EEPC, Indian engineering exports to the US which is one of the top destinations for exporting such goods increased by 47% and that to China by 76% during the 11 months (April-February) of the last financial year ended March 31.

EEPC Chairman Ravi Sehgal in a recent statement said that there is high risk associated with the global trade tensions between the US and China, thus would not like to caught in the cross fire.

He further added that the rising import tariff under US presidential rule on steel and aluminum and the complaint filed against India by US in the World Trade Organization (WTO) for various export promotion schemes posing grave challenges for the Indian Export sector.

Imposition of import tariff of 25% on steel and 10% on aluminum by US president Donald Trump last month will open the doors of global trade war.

According to EEPC reports, India's engineering exports to the USA between April-February 2017-18, have increased to $21 billion, from $6.25 billion a year ago with a growth of 47.3 per cent.

Also, the engineering shipments to China increased from $1.62 billion to $2.8 billion for the same period.

As per the monthly statistics, US remained on the top most exporting destination for India’s engineering products in Feb 2018.

Major items of exports to the US include products of iron and steel, industrial machinery, non-ferrous metals, automobiles."

Meanwhile, the trade war between China and the US heighted further with Beijing slapping a tariff as high as 25 per cent on 128 American products. (KNN/YV)