Kolkata, May 24 (PTI) Export of engineering goods to CIS countries including Russia and Ukraine fell the most year-on-year during April 2022, while that to North America registered the highest growth during this period, according to an EEPC India analysis.

As per the region-wise data, exports to CIS countries slumped to USD 25.1 million in April 2022 from USD 90 million in the same month last year.

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On the other hand, exports to North America surged 52.9 per cent year-on-year to USD 2.26 billion in April compared to USD 1.48 billion in the corresponding period of the previous year.

The region remained the top market ahead of the European Union (EU) for Indian engineering goods during the period under review.

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Engineering export to the EU was USD two billion last month as compared to USD 1.42 billion in the same month of the previous year, the EEPC said in a statement.

The United State of America (USA) recorded a 59 per cent jump in imports of engineering goods from India in April this year with the value of total shipments aggregating to USD 1.87 billion as against USD 1.17 billion in April last year.

Notably, engineering exports to China declined 47.5 per cent year-on-year in April 2022 to USD 216.8 million as compared to USD 413.2 million in April 2021.

India's engineering exports recorded 21.97 per cent growth in April 2022 over the same month last fiscal by registering USD9.73 billion of shipments last month as against USD 7.97 billion in April 2021. The share of engineering exports in total merchandise exports was recorded at 24.20 per cent during this period.

The target for India's engineering exports for 2022-23 has been set at USD 127 billion by the government. In line with the target for the entire fiscal, that for April 2022 on a pro-rata basis was USD 10.58 billion while actual export during the month was USD 9.73 billion.

"Following the remarkable performance in FY 2021-22, India's merchandise, as well as engineering exports, recorded impressive numbers in the first month of the new FY 2022-23.

"During this time while India's merchandise exports grew by 30.7 per cent to reach USD 40.19 billion, engineering exports grew by nearly 22 per cent to reach USD 9.73 billion," EEPC India chairman Mahesh Desai said. PTI dc

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