States » SouthPosted at: Dec 28 2018 11:00PM

Annual engineering export touches 80 billion dollars: Governor

Chennai, Dec 28 (UNI) Tamil Nadu Governor Banwarilal Purohit on Friday said that the share of engineering goods in India’s total merchandise export is around 25 per cent and its annual value is close to 80 billion dollars.
Addressing in the 41st Engineering Export Promotion Council (EEPC) India Southern Region Export award here on Friday, he said, Indian economy is increasingly getting integrated with the global economy and hence there is a need to focus on exports since that paves the way for maintaining the stability of the foreign exchange rate and for ensuring that the essential commodities required to be imported are available to the people of the nation.
He thanked the efforts taken by the Government of India in the last few years as the foreign exchange reserves position is comfortable and the foreign exchange rate has been stable. The current account deficit is well under control and it is easily met by inflows in the form of remittances by Non Resident Indians and through foreign direct investment channels.

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Annual engineering export touches 80 billion dollars: Governor

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