Review Coronavirus impact on exports: EEPC India urges Govt
New Delhi, Jan 30 (KNN) With China being among the top 10 destinations for engineering exports, EEPC India has urged the government to review the possible impact of deadly Coronavirus on trade as well.
Indian engineering exports to China increased by a significant 27.60 per cent to USD 1.77 billion during April-December 2019 -20 from USD 1.33 billion a year ago, according to EEPC India analysis.
"In fact, China has emerged as our 10th largest export destination for engineering goods, dominated by iron and steel as also industrial machinery,'' said EEPC Chairman Ravi Sehgal.
He said, the government high level review has directed the Ministry of Shipping to initiate entry screening at the international ports having traffic from China.
"With disruptions reported in China due to transport and travel restrictions in several cities, we are trying to ascertain the exact impact on the trade," Sehgal said.
According to EEPC India trade analysis, iron and steel exports to China had shown an impressive year-on-year increase of over 121 per cent to USD 452 million during April-December this fiscal. Likewise, the industrial machinery exports to China went up by 12 per cent to USD 433 million during this period.
''Exports to China showed significant increase against the backdrop of overall negative trend of 1.95 per cent in total engineering exports of USD 57.9 billion for the April-December , 2019-20 period."