FTAs help India's engineering exports surge 9pc to UAE, Australia in April-Aug

Updated: Sep 29 2023 9:20PM

Kolkata, Sept 29 (PTI) The recent Free Trade Agreements (FTAs) with the United Arab Emirates (UAE) and Australia have injected fresh vigour into India's engineering exports, witnessing a notable 9 per cent surge in shipments to both nations during the April-August period of the current fiscal, an industry official said.

This surge comes at a time when overall engineering exports have experienced a decline, EEPC India said on Friday.

Engineering exports to the UAE during the April-August period of FY24 recorded a 9 per cent year-on-year growth, reaching USD 2.24 billion. Simultaneously, engineering exports to Australia also witnessed a substantial 9 per cent year-on-year upswing, amounting to USD 596.14 million compared to USD 548.62 million in the April-August period of FY23.