India's engineering exports to the US are likely to increase to USD 15 billion in the next 2 to 3 years by maintaining the tempo achieved in the current year, according to engineering exporters' body EEPC India.
"In a difficult year for the global economy when the multilateral agencies like IMF and World Bank had projected slow growth in international trade, the US proved to be a bright spot for the exports of Indian engineering items.
"Engineering exports, including value-added products like aircraft and spacecraft parts to the US increased by close to 30 per cent to USD 5.8 billion during April-December 2014-15 over USD 4.45 billion during the same period last year. The fiscal may close with shipments of engineering goods to the US in the range of USD 7.5 billion and may even touch USD 15 billion in the next two to three years," EEPC India Chairman Anupan Shah said.
In December 2014, engineering exports to the US went up by a whopping 33 per cent to USD 723 million from USD 544 million a year ago thanks to a smart recovery seen in the American economy, EEPC India said.
