Export of engineering goods down in Feb.

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As shipments to the US, the largest market for Indian engineering goods, declined, exports have dropped by 5 per cent in February 2021 (year-on-year) to $6.5 billion after posting a growth of 16.46 per cent the previous month. Demand from China, however, continued to rise, with exports posting a 68 per cent increase in February, as per an analysis by EEPC. Overall, engineering exports dipped 8.16 per cent in April-February 2020-21 to $64.27 billion. Given the ongoing Covid vaccinations globally, exporters are hopeful that the worst is over and a resurgence is round the corner. As per EEPC data, the US retained its position as the topmost destination for Indias engineering products, with exports at $927.38 million, though shipments to the country fell both in monthly and cumulative (April-February 2021) terms, said a report.