Engineering exports may face trouble cracking the $80-billion mark for FY19

This is expected to drag down the overall export growth of the country as the engineering sector remains a major foreign exchange earner

With engineering exports struggling to catch up with the last financial year’s performance, the total outbound shipments may be dented. Total merchandise exports had risen by 10 per cent in the first nine months of the current financial year. 

While engineering exports had totalled $92 billion in 2017-18, these raked in $64.92 billion in April-December, 2018-19. At this rate, these exports should worth $86.56 billion for FY19.  

But, industry insiders apprehend that engineering exports may even face trouble cracking the $80-billion mark for FY19, way down from initial expectations of at least $90 billion. 

"Apart from a severe liquidity crunch