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Engineering is by far the largest segment in Indian industry. It employs approximately 4 million skilled and semi-skilled workers. The engineering sector has witnessed tremendous growth, powered by significant investments in power projects and infrastructure development.
Exports Going Strong
- Indian engineering exports rose from US$ 18.8 billion in April-October (2009- 10) to US$ 27.3 billion in April-October (2010-11), posting a growth of more than 45 per cent.
- About 39 per cent of exports are headed to Europe and America.
- The US imported Indian engineering goods worth US$ 2.9 billion in April-October (2010-11), posting a growth of 66 percent over April-October (2009-10).
- The UAE imported engineering goods worth US$ 1.5 billion from India in April October (2010-11), representing a growth of 22 per cent over April-October (2009-10).
- Indian engineering exports to Kuwait, South Africa, Belgium, Iran, Sri Lanka, Saudi Arabia, Malaysia, China, South Korea and Thailand have also seen significant rise during the period April-October (2010-11).
- A key driver for increased engineering exports has been the shifting of global manufacturing bases to countries such as India that offer lower costs and good engineering aptitude.
- The nature of Indian engineering exports is changing with time----India is fast moving from exporting low-value goods to developing countries to exporting high-value goods to developed countries.
- New opportunities, such as outsourcing of engineering goods and services, new product design, product improvement, and maintenance and designing of manufacturing systems, are providing fresh growth avenues.
- With development in associated sectors such as automotive, industrial goods and infrastructure, coupled with a well-developed technical human resources pool, engineering exports are expected to touch US$ 125 billion by 2013-14.
- Availability of raw materials, such as ferrous and non-ferrous metals, gives India a major cost advantage, as materials account for nearly 50 per cent of industry's operating costs.
- India has a well-developed vendor base of ancillary engineering industries.
- Industries such as machine tools, textile machinery, auto components, etc., have global capabilities and are globally competitive.
- India is also being preferred by global companies as a strategic base for market entries into developing countries.
EEPC India (Formerly Engineering Export Promotion Council)
EEPC has more than 12,000 members, including small & medium enterprises (SME), trading houses, etc.
Contact Details
Vanija Bhavan
1st Floor, International Trade Facilitation Centre,
1/1, Wood Street
Kolkata – 700 016
West Bengal
INDIA
Tel.: +91-33-22890651/52
Fax: +91-33-22890654
Email: eepcho@eepcindia.net
Website: www.eepcindia.org
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