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01 Apr 2020, Edition - 1723, Wednesday

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Coimbatore

Engineering experts to witness marginal decline :EEPC

Covai Post Network

Coimbatore, Mar 4 :The engineering goods exports from India are likely to witness a marginal decline during this financial year, Engineering Export Promotion Council (EEPC) Chairman, Ravi Sehgal said on Wednesday.

India had registered an export of 81 Billion US Dollar last fiscal and there was high expectation to cross that mark. But global trade war between China and USA took the toll of India due to lesser demand, Sehgal told reporters here.

To cap it all, the spread of Covid-19 virus also had a great impact on the exports, due to which Indian exports are expected to be below 80 Billion US dollar, Sehgal, here as part of organising three-day 9th International Engineering Sourcing Show ((ESS), said.

Stating that the exports may witness a dip in the first three months of 2020–January-March, as against the normal peak situation, he said it was likely to pick up during April-June due to various reasons, including the advantage by the impact of Corona virus.

When asked whether the visit of US President Donald Trump will help to boost exports to that country, Sehgal said that though there was no immediate impact on the restrictions imposed by US, it could be a moral booster for future trade, particularly on duties.

Earlier addressing the IESS, Sehgal said that 467 exhibitors from 47 Countries are displaying their products in this flagship annual event

Though the event is taking place in the background of challenging global economic environment, it would provide opportunity for the participants to brainstorm and come up with out-of- box solutions to meet head winds like impact of corona virus on trade, economic slowdown and protection measures being resorted by several leading economies of the world, he said.

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