Engineering exports to the UAE and Saudi Arabia declined 15.8 % and 42.6 % in May 2025 in contrast with final May.
According to EEPC India, exports to the UAE in May 2025 have been price $ 683.38 million as in opposition to $ 811.2 million in May 2024 and shipments to Saudi Arabia final month have been price $337.11 million as in opposition to $587 million in May 2024. Exports to Turkey and Mexico additionally noticed a considerable drop.
The EEPC commerce evaluation report says that whereas India’s engineering exports to the US and the EU grew, vital decline was famous in UAE, Saudi Arabia and Turkey, which have been main markets for India. The decline was primarily due to the rising geo-political tensions within the space and the rising menace to logistics.
The international commerce was at the moment going via a section of uncertainty. The European Central Bank had revised the worldwide commerce development down by 0.4% to attain 3.1%. The purpose was primarily the rising geopolitical tensions throughout Middle East and West Asia, coverage uncertainty within the US, and protectionist measures by among the main markets. Support from the Ministry of Commerce and Industry could be essential for the business, particularly in growing new applied sciences in upcoming areas, together with uncommon earth magnets, and exploring new markets, the EEPC stated.