January 16, 2024 09:50 pm | Updated 09:50 pm IST - HYDERABADIndia’s engineering goods exports increased 10.20% year-on-year to $10.04 billion in December. Engineering exporters body EEPC India said the performance came in the face of several challenges triggered by geo-political tensions and tight financial conditions in major advanced economies. “While it is certainly a strong rebound, the sector is not out of the woods yet as global economic uncertainties remain high,” chairman Arun Kumar Garodia said. “We remain cautiously optimistic and hope geopolitical tensions would ease, leading to improvement in the global macroeconomic situation,” Mr. Garodia said. It also wants the government to initiate measures such as low-cost credit and market support in the Budget to boost engineering exports.

Source: The Hindu January 17, 2024 01:24 UTC