EEPC urges govt to comprehend possible impact of Coronavirus on engineering exports to China

Complimenting government for a high- level review, under the cabinet secretary, of the situation arising out of outbreak of Coronavirus in China, EEPC India today urged the authorities to comprehend the possible impact on trade as well, since engineering exports to China have been showing a robust growth in the current financial year.
Indian engineering exports to China increased by a significant 27.60 per cent to USD 1.77 billion during April-December 2019 -20 from USD 1.33 billion a year ago, according to EEPC India analysis.

"In fact, China has emerged as our 10th largest export destination for engineering goods, dominated by iron and steel as also industrial machinery,'' said EEPC chairman Mr Ravi Sehgal.

He said, the government high level review has directed the Ministry of Shipping to initiate entry screening at the international ports having traffic from China.
"With disruptions reported in China due to transport and travel restrictions in several cities, we are trying to ascertain the exact impact on the trade," Mr Sehgal said.

According to EEPC India trade analysis, iron and steel exports to China had shown an impressive year-on-year increase of over 121 per cent to USD 452 million during April-December this fiscal. Likewise, the industrial machinery exports to China went up by 12 per cent to USD 433 million during this period.

"Exports to China showed significant increase against the backdrop of overall negative trend of 1.95 per cent in total engineering exports of USD 57.9 billion for the April-December , 2019-20 period."