US recovery helps smart rise in engineering exports in June: EEPC
Updated: Jul 16, 2014 02:46:10pm
New Delhi, Jul 16 (KNN) A smart rise of over 21 per cent in exports of engineering goods at USD 5.4 billion in June has come about on the back of fast improving situation in the US economy, industry body EEPC has said.
“We are getting good number of orders from the US so much so that our domestic manufacturing infrastructure is not able to support the same,” Chairman of the apex body of engineering exporters, EEPC India, Anupam Shah said.
However, he said that problems like power outages in several states and raw material shortages along with issues of skilled labour were coming in the way.
“If these problems are sorted out, exports can lead the GDP recovery this fiscal,” he said.
Meanwhile, Shah is of the opinion that the WTO ruling on steel exports to the US is fair since Indian shipments face unnecessary levies and restrictions, even as the products compete on merit without any state support.
On the other hand, India allows steel imports without any restrictions as is evident from over 18 per cent increase in imports of iron and steel in June. (KNN/ES)
“We are getting good number of orders from the US so much so that our domestic manufacturing infrastructure is not able to support the same,” Chairman of the apex body of engineering exporters, EEPC India, Anupam Shah said.
However, he said that problems like power outages in several states and raw material shortages along with issues of skilled labour were coming in the way.
“If these problems are sorted out, exports can lead the GDP recovery this fiscal,” he said.
Meanwhile, Shah is of the opinion that the WTO ruling on steel exports to the US is fair since Indian shipments face unnecessary levies and restrictions, even as the products compete on merit without any state support.
On the other hand, India allows steel imports without any restrictions as is evident from over 18 per cent increase in imports of iron and steel in June. (KNN/ES)
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