Engg goods exports down 25 percent; sack order for 10 percent

摘要

Engineering goods-which constitute the largest chunk of exports from India (overa fifth of the total exports)-is facing a severe crisis due to the global financial turmoil and the demand slowdown in the West, with its volumes of shipment in tonnage terms declining by almost 40 percent and exports in value terms decreasing by 25 percent from the beginning of this fiscal tillSeptember. As a direct fall out of this, the labour-intensive sector-which employs around 10 million workers -has cut their workforce by at least 10 percent during the first six months of this fiscal, accordingto Engineering Exports Promotion Council, India (EEPC). This means, around one million contract workers are tem-porarilvwithoutjob.