Machinery exports surged 54% to $82 billion from April to December, according to the Union Department of Commerce

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India’s top five export destinations for technical goods include the USA, China, the United Arab Emirates, Italy and Germany.

Exports of engineered goods rose 54 percent to $81.8 billion in April-December 2021-22 compared to the same period last year, the Commerce Department said on Monday.

In the corresponding nine-month period 2020-21, exports amounted to USD 52.9 billion.

The sector accounted for over 27 percent of India’s total export basket during the period.

In the entire 2020-21 period, the sector’s exports totaled $76.62 billion.

“With the sector already recording $81.8 billion in the first three quarters of 2021-22, the sector is poised to continue hitting record highs in January 2020 despite the impact of the COVID-19 pandemic,” it said.

India’s top five export destinations for technical goods include the USA, China, the United Arab Emirates, Italy and Germany.

The ministry said the zero-duty Capital Goods Export Promotion (EPCG) program has helped boost exports, it added.

The scheme allows imports of pre-production, production and post-production capital goods (including fully disassembled/partially disassembled goods and computer software systems) at zero duty, subject to an export obligation of six times the duty , calculated from the date of issue of the permit, must be met.

The technical goods sector includes metal products, industrial machinery and equipment, automobiles and their components, transportation equipment, bicycles, medical equipment and renewable equipment.

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