Global slowdown taking a toll on exports

Kolkata: Engineering Exports Promotion Council (EEPC) said that overall exports of engineering goods from the country have been affected by the global slowdown.

Overall engineering exports during April to August in 2023 dropped 4.55 per cent to $44.62 billion as against $46.74 billion in the previous similar period of 2022.

According to an EEPC spokesman, engineering exports to Russia surged 178 per cent to $568.41 million during April to August of fiscal 2023-24, which was $204.17 million in the corresponding previous period. The exporters’ body said that some of the major trading partners like the US and European countries have been affected by the global slowdown.