EEPC : Gujarat engineering exports grew by 7% in April to December

AHMEDABAD : The engineering sector in Gujarat saw exports grow despite negative global factors such as high inflation and the UkraineRussiawar.

The Indian engineering industry registeredexportsworth$69billionin April to December 2022, about 7% higher than the same period of the previousyear.

Experts say machinery demand has risen and has driven this growth. Gujarat accounts for around 36% of India’s engineering exports, according to data from the Engineering Exports Promotion Council(EEPC).

Sachin Patel, Gujarat region member of EEPC said, “The Indian engineering industry has been in a growth phase for the last few years and Gujarat contributes around 36% ofthecountry’sengineeringexports.

“The Indian engineering sector has good credentials in terms of quality, and we are thus growing even in a time of global inflation and the Russia-Ukraine war. The engineering industry in Gujarat reported exports worth $25 billion in the first nine monthsofthecurrentfinancialyear.”

According to EEPC, from April to December 2021, Indian engineering exports were worth $64 billion, and grew by 7.8% to $69 billion in April-December 2022.

However, December exports registeredadecreaseofabout3%.

Patel said, “Demand for chemical plant machinery, textiles and pharma machinery has remained high in the international and domestic markets. Demand from Russia increased for last year because Russian buyers have stopped purchasing from Europe and all their orders have divertedtoIndia.”

Gujarat is a leading state in the engineering sector and companies serve demand for machinery from industries like automobiles, textiles and chemicals as well as supplying CNC machines, boilers and brass partstomanycountries.

Dredging Corporation posts highest Q3 turnover of Rs 372 Cr

NEW DELHI: Dredging Corporation of India Limited (DCIL) has posted its highest ever third quarter turnover of Rs. 372.30 crore since inception for the financial year 2022-23. It has clocked a profit of Rs. 13.84 crore by reporting a turnaround performance. The EarningPerShare(EPS)isatRs4.94.

The Earnings before Interest, Taxes, Depreciation and Amortization (EBIDTA) for the 3rd Quarter is at Rs 62.08 crore as against Rs. 45.15 crore for the same quarterlastyear.

DCI has clocked this performance irrespective to the fact that the fuel prices continue to remain high in the recent times. All the existing projects have been monitored meticulously and executed on time to the complete satisfactionoftheclients.

DCIL Chairman K Rama Mohana Rao, who is also Visakhapatnam Port Authority Chairman, and DCIL Managing

Director Captain S Divakar are exuberant for the turnaround Äperformancewhichwasnotpossible without the team efforts of all the employeesofDCIL.

The chairman said that the company is committed to maintain this upward trend and continue to show improvement in the performance which is aiming at a record highest ever turnover of Rs 1,000 crore for this financial year 2022-23.