New Delhi: The year has started on a strong note for engineering goods exports and given the push in Budget for industry and infrastructure the sector would aim to achieve exports of US$134 billion in the financial year 2022-23, EEPC India Chairman Mahesh Desai said on Wednesday.
“For the engineering export sector this Budget 2022 remains crucial as it is expected to work as an enabler in achieving the target of US$ 134 billion in 2022-23,” he said in a statement. Desai said that continuing the uptrend and remaining among major export drivers, engineering goods exports jumped 24% in January 2022 with the total shipment value exceeding US$ 9 billion.
Further, engineering goods’ share in overall merchandise exports in January stood at 27%. “The budget has signalled that growth in the next fiscal will be supported by private investments, exports and supply-side reforms. The engineering goods sector should get a major push in the coming financial year,” he said.
He hoped that the demands of the industry with regards to RoDTEP and Interest Equalization would be considered by the government in coming days as the two did not get mention in the budget. “Along with these issues, the government should also consider steps to address the issue of input costs on account of high sea freight charges and primary metals such as aluminium and copper,” Desai said.
