Kolkata, Dec 17 (UNI) Engineering goods exports have maintained steady growth for the last seven months despite challenges and uncertainties on the external front, according to EEPC India.
” As per the latest trade data, engineering goods remained one of the Major drivers of overall merchandise exports in November this year,” EEPC India Chairman Pankaj Chadha said on Tuesday.
In November 2024, engineering goods exports recorded 13.75 percent year-on-year growth to $8897.64 million. Cumulatively, it grew 10.18 pc year-on-year to $76381.30 million in the April-November period of the current financial year.
As engineering goods exports significantly contribute to jobs and forex, it is essential to keep the current momentum in exports and push it further. We have suggested various measures to boost exports and make India a hub for engineering goods.
To achieve this goal, EEPC India has suggested several policy measures to the government.
” As part of the pre-budget consultation, we have recommended including steel in the RoDTEP scheme, increasing the current limit under the Interest Equalization Scheme (IES) on pre- and post-shipment rupee export credit to Rs 10 crore from the current cap of Rs 50 lakhs and introducing a 25 pc income tax slab for MSME manufacturing units that are partnerships, LLPs, or sole proprietorships among other key proposals,” said Chadha.
