India’s engineering exports declined by 9.7 per cent to USD 4.67 billion in August 2012 due to sluggish demand in markets like the US and Europe, the Economic Times reports.
India’s engineering exports were valued at US$4.67 billion for the month — down from US$5.17 billion in August 2011.
“The decline in engineering exports was expected given the global market conditions,” EEPC Chairman Aman Chadha said.
The exporters are getting lesser number of orders due to weak demand in markets like the US and Europe, he added. (…)
