Mexico has emerged as the top destination for India’s automobile exports, making a compelling case for the Indian engineering exporters to further push forward in the growing south American markets, according to EEPC India.
The EEPC India, which would be organising India Pavilion at Expo National Ferretera 2016 to be held in Guadalajara (Mexico) later this week, came up with an analysis which found that the neighbouring US occupied the highest slot for outward shipments of the automobile components, according to April-July data analysis by the engineering exports body EEPC India. Of the total automobile exports of $2.78 billion between April and July this fiscal, as much as $501 million were shipped to Mexico, followed by Nepal at $157 million and UK at $130 million. These exports to Mexico saw a phenomenal rise of 110 per cent while for Nepal, the increase was even more impressive at 120 per cent for the period under review. For the UK exports, the rise was 22 per cent.