After the shutdown of country’s Federal Government, Indian shipments to the U.S. are likely to get affected.
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After the shutdown of country’s Federal Government, Indian shipments to the U.S. are likely to get affected.
The shutdown, the first since October 2013, followed U.S. lawmakers not being able to come to an agreement on immigration and border security related issues.
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Since the American economy is among the largest destinations for (India’s) exports, the shutdown of the U.S. Federal Government is certainly a bad news for the Indian exporters.
India’s exports to the U.S. in April-October this fiscal were $27.09 billion or 16.27% of the total exports of $166.46 billion in the period.
In 2016 – 17, exports to the U.S. were $42.2 billion, or 15.3% of the overall exports of $275.85 billion.
For India’s engineering sector, the U.S. is the number one export destination, giving a robust growth in the current financial year.
Between April-December period of the current fiscal, (India’s) engineering exports to the U.S. grew by over 50% to $7.5 billion.
According to reports, Federal government employees had been asked to work without salary or stay home till new funding was approved.
