Engineering Goods Exports From India

Engineering is the largest industrial sector in India and accounts for 3% of the country's Gross Domestic Product (GDP). The country's engineering sector comprises manufacturing iron, steel, related products, non-ferrous metals, industrial machinery, automobiles, auto components, and other engineering products. The key goods exported under the industrial machinery category are IC (Internal combustion) Engines and Parts, Industrial Machinery for dairy, food processing, textiles, Industrial Machinery like Boilers, parts, Machinery for Injecting molding, valves, and ATMs.

India became a permanent member of the Washington Accord (WA) in June 2014. It is now a part of an exclusive group of 17 countries that are permanent signatories of the WA, an elite international agreement on engineering studies and mobility of engineers. India's engineering sector has witnessed remarkable growth over the last few years, driven by increased investment in infrastructure and industrial production. In 2019, the government announced an investment of Rs. 100 lakh crore (US$ 1.5 trillion) in infrastructure development over the next five years. In the Union Budget 2022-23, the government has given a massive push to the infrastructure sector by allocating Rs. 199,107 crores (US$ 26.52 billion) to enhance the transport infrastructure. The engineering sector is an important component of the broader manufacturing sector, and the share of engineering products in overall manufacturing output is quite significant. It is also a highly organized sector dominated by large players employing over four million skilled and semi-skilled labor.