NEW DELHI: While India’s exports to China contracted by -10 per cent in June 2015, analysis by the Engineering Export Promotion Council of India (EEPC) shows a -36 per cent contraction in the export of non-ferrous metals to China in that period. India’s exports to China have been contracting since September 2014.
Exports of non-ferrous metals dropped to $85.09 million in June 2015 from $132.67 million a year ago. “China is the top-most importer for non-ferrous metals, importing around 19 per cent of India’s total exports of these metals,” said Anupam Shah, Chairman of EEPC India.
Analysis by The Hindu, however, shows that where non-ferrous metals have lost out, the ores and minerals segment has gained tremendously. While India’s exports of ores and minerals to China stood at $33.7 million in June 2014, they jumped to $75.7 million in June 2015, a 125 per cent increase. Ores and minerals now make up 10 per cent of India’s total exports to China.
Another area that has seen strong growth is the exports of manufactured goods, which made up 65 per cent of India’s exports to China in June last year, and now make up 74 per cent. This has largely been driven by growth in the exports of textiles (excluding readymade garments), which grew 75 per cent in June 2015, from $96 million in June 2014.
Exports of engineering goods to China, which make up close to 20 per cent of India’s exports to China, contracted -25 per cent in June 2015, from $202 million in June 2014 to $150 million.
