Trump plans to enhance infrastructure
US President-elect Donald Trumps plans to enhance Americas infrastructure through fiscal expansion is likely to boost Indias engineering exports to the country, says EEPC India.
“Trumps plan to infuse massive stimulus to ramp up the physical American infrastructure through fiscal expansion would be a big positive for the Indian engineering exports to the US with increased demand expected for items such as steel and iron,” EEPC India Chairman TS Bhasin said.
The US, one of the largest destination for Indias engineering exports, has witnessed a sharp drop in the shipments for quite some time now.
Such exports to the US dropped by over 10 per cent to USD 3.2 billion during April-September 2016-17 from USD 3.5 billion in the same period last year. “Such a fall came about on the back of a big drop of 37.8 per cent in shipments of Indias iron and steel to USD 140 million during the first half of the current fiscal from USD 225 million in the year ago period,” he said.