Shut down in US, shock Indian exports: EEPC.
Kolkata, Indian Engineering Export Promotion Council (EEPC) on Saturday said that the country’s exports will be affected by the stalemate of the US federal government, because America is one of the most exported countries. After the Democrats of Senate banned federal government’s short-term spending measures, the US government announced its shutdown on Saturday for the first time after four years.
In fact, the United States has an anti-discriminative act, in which federal agencies have to stop their work when the funds are depleted. On the other hand, the government brings a short-term expenditure bill to meet the fund’s shortfall, which has to be passed in the US House of Representatives and the Senate. This bill passed the House of Representatives, but the Senate rejected it.
EEPC India President Ravi P. Sehgal said, “The news of the closure of the US federal government is certainly a bad news for Indian exporters. Because America is one of the most exported economies in the country. ” He said that the US is the number one export destination for the engineering sector and strong growth is seen in the current financial year.
Saigal told that during the April-December period of the current financial year, there was an increase of more than 50 percent in engineering exports to the US. Expressing concern, he said, “More than 60,000 employees of the US Department of Commerce and Transportation will be discharged on vacation during the captivity, which will affect the operation of ports as well as clearing.”
Not currently affecting American flights
Amidst the side effects of the US government’s shutdown on the entire world, any flight to India from India has not been canceled. Sources have received this information. Although the passengers have not been affected yet, industry leaders have said that if this government shutdown continues for a long time, its impact will start in the near future.