South Asia is No.1 destination for Indian high-tech products

Prime Minister Narendra Modi has been working hard to make the South Asian region as a nerve centre for the manufacturing sector. His hard work is now bearing fruits for engineering exports as the region has emerged as the number one destination for Indian high-tech products, generating around $1 billion in April 2015.

As against a miniscule increase of 0.23% in overall engineering exports in April this year, the shipments South Asia leapfrogged by over 90% to $892 million for the month over $465 million compared to last year, according to an Economic Times report.

"Significantly, South Asian countries which used to account for modest share of Indian engineering exports have become a major market for us giving us more than 15% of the total shipments," said Anupam Shah, chairman of the EEPC India.

Meanwhile, total engineering exports in April were $5.7 billion.

"When Europe and several other parts of the world are posing challenges, finding a handsome growth in the neighborhood was a pleasant surprise. The development gels very well with the policies of the government to give top priority to our neighbours in the foreign policy," said Shah.
(Image: Indiatimes)