Introduction
Engineering is the largest industrial sector in India and accounts for 3% of the country’s Gross Domestic Product (GDP). The engineering sector of the country comprises manufacturing iron, steel, related products, non-ferrous metals, industrial machinery, automobiles, auto components and other engineering products.
Export Trend
The engineering goods export of India had a share of 27% out of the total exports during April-December 2021 from the country. During 2021-22, the total engineering goods exports of India were valued at US$ 111 billion; a 52% increase from the previous year.
The iron and steel exports of India during April 2021-January 2022 were US$ 19.3 billion. In the automobiles sector, India exported a total of 0.58 million units of passenger vehicles in 2021-22, a 43% increase from the previous financial year.
Export Destinations
India exports engineering products to the following regions: ASEAN, North-East Asia, Africa, EU, North America, CIS, Latin America, South Asia, Africa, Middle East and West Asia etc. The top Indian engineering goods importing countries are the US, China, UAE, Italy and Germany with a share of 14.7%, 5.8%, 5.1%, 4% and 3.4% respectively.
Government Initiatives
The government of India has implemented several export promotion schemes such as the Merchandise Export from India Scheme (MEIS), Service Export from India Scheme (SEIS), Towns of Export Excellence (TEE), Market Access Initiative (MAI), etc. to encourage the exporter and to help grow the revenue from international markets. Also, for the ease of raw material imports, schemes such as duty exemption, advance authorization, duty-free import, rebate on service tax, etc. have been implemented.
The Indian Engineering Exposition (INDEE), a brand of EEPC India, is one of the largest engineering expositions in the world.
Government Body
Engineering Export Promotion Council (EEPC)
Formed in 1955, EEPC is a trade and investment promotion organization for the Indian engineering sector. The primary responsibilities and activities of the council are to arrange seminars, exhibitions, buyer-seller meets and also to promote the ‘Make in India’ brand. It also provides services to its member and foreign buyers.
RELATED SITES
Vanijya Bhawan
1st Floor, International Trade Facilitation Centre,
1/1, Wood Street
Kolkata - 700016
West Bengal
India
Tel.:+91-33-22890651/ 52
Fax: +91-33-22890654
Email: eepcho@eepcindia.net
Website: www.eepcindia.org
