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Engineering Industry
India's engineering industry exports various products, including machinery, transport equipment, iron and steel, and electrical equipment.
- India's engineering export industry has a CAGR of 7.1% between 2014- 2020.
- The industry exports various products, including machinery, transport equipment, iron and steel, and electrical equipment.
- Indian engineering products are competitively priced and of high quality, making them attractive to buyers in international markets.
- India has a large market for engineering exports, with buyers in developed and developing countries.
- The Indian government supports the engineering industry through initiatives like the National Capital Goods Policy and the Make in India campaign.
- These initiatives aim to promote domestic manufacturing, create employment opportunities, and enhance India's position in the global manufacturing landscape.
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Indian engineering manufacturers have access to advanced manufacturing facilities, including robotics and automation, which help them produce high-quality products at competitive prices. The engineering industry has a robust supply chain, with a network of suppliers, manufacturers, and distributors, making it easier for companies to export their products.
The export volumes of Indian engineering products have been consistently increasing over the years, indicating the industry's potential for growth. Indian engineering exporters are targeting emerging markets, such as Africa and Southeast Asia, which offer significant potential for growth. Additionally, there has been a growing demand for renewable energy equipment, providing an opportunity for the engineering industry to capitalise on this trend.
