Financial engineering?

Given how IIP growth has continued to plummet, it was always a big surprise as to how exports, engineering exports at that, continued to grow the way they did. Instead of the government’s large statistical/tax machinery picking it up, Kotak Institutional Equities appears to have cracked the mystery, leaving a more comprehensive follow up for various government bodies including possibly many involved in tracking black money. While India’s exports rose 36% in 2011, from $179bn in 2010 to $244bn in 2011, engineering exports were the major part of this—they rose from $38bn to $68bn.

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