India exports engineering products to the following regions: ASEAN, North-East Asia, Africa, EU, North America, CIS, Latin America, South Asia, Africa, Middle East, West Asia, etc. The top five Indian engineering goods importing countries were the USA, the UAE, Germany, Italy, and Singapore with a share of 17.44%, 4.61%, 3.68%, 3.67%, and 3.42%, respectively, in 2022-23 out of the 25 countries recorded positive cumulative growth in engineering exports during April-March 2022.
India's engineering exports continued their year-on-year growth for the second consecutive month into January 2024 with a 4.20% increase. The expansion in January 2024 was attributed to increased shipments of Iron & Steel, Aircrafts, spacecraft and parts, Copper and copper products, and Electric machinery. Additionally, heightened demand from South Asia, the European Union, and North America contributed to this growth.
The share of the top 25 importing nations of India's engineering goods accounted for 75.9% of India's total engineering exports in 2022-23. This significant share is evidence of the dependence of India's engineering exports on the traditional markets. Italy, the UAE, and the USA were the top three importers of Indian Iron and Steel during 2022-23, whereas the USA, Germany, and the UAE were the top three importers of India's 'Products of Iron and Steel' during the same period as compared to 2021-22.
Indian industrial machinery saw the highest imports from the USA during 2022-23. Germany and Thailand were the two immediate followers of the USA. South Africa, Mexico, and Saudi Arabia were the top three importers of India's automobiles during 2022-23 in India’s global exports respectively over the same period last fiscal.
During 2022-23, the top three importers of India's non-ferrous metals and products were the USA, Korea, and Malaysia whereas the USA, France, and Germany were the three top importers of Indian electrical machinery and components during the same period.