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India's engineering exports to China rise 123% in June quarter

Monday, July 31, 2017

India's exports of engineering goods to China saw a whopping 123% growth at USD 629 million during April-June this fiscal, driven by an upsurge in shipments of non-ferrous metals, according to trade body EEPC India.

The country's shipments to China stood at USD 282 million in the April-June quarter of the previous fiscal. The rise assumes significance as India has a massive trade deficit with China, which mounted to USD 46.56 billion last year as Indian exports continued to decline while the bilateral trade marginally slowed down by 2.1% to nearly USD 71 billion, data released earlier showed.

India's overall exports grew by 4.39% to USD 23.56 billion in June, according to commerce ministry data. Shipments in the first quarter of 2017-18 rose by 10.57% to USD 72.21 billion while imports surged 32.78% to USD 112.2 billion, leaving a trade deficit of USD 40 billion.

Shipments of engineering goods from India to China aggregated USD 234 million in June, against USD 94 million in the same month last year. The sharp rise was on the back of a mammoth 971% increase in the shipments of non-ferrous metals in June this year to USD 158 million from a mere USD 14.75 million in the same month last year, the analysis revealed.

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