India’s Engineering Exports Hit Record $116.7 Billion in 2024-25

India’s Engineering Exports Hit Record $116.7 Billion in 2024-25

India’s engineering goods exports reached an all-time high of $116.7 billion in 2024-25, growing 6.74% year-on-year and beating the previous record of $112.1 billion in 2021-22.

Key Highlights:

Top destination: The US, with exports rising 8.7% to $19.15 billion.

Other growth markets: UAE, Singapore, Nepal, Japan, and France.

Engineering exports outpaced overall merchandise exports, which grew just 0.08%.

Their share in total exports rose to 26.67% from 25.01%.

Sector Performance:

28 out of 34 engineering sectors saw growth.

Declines were noted in sectors like iron, steel, copper, aluminium, and office equipment.

Regional Breakdown:

North America led with a 20.5% share, followed by the EU (17.1%) and West Asia & North Africa (16.7%).

Exports fell in Oceania (-10.4%) and the EU (-1.9%).

Challenges Ahead:

Exports dropped in March 2025 by 3.92%, signaling possible future headwinds.

Global trade is under pressure from geopolitical tensions, US tariffs, and protectionism.

The WTO warns of a 0.2% decline in global trade volume for 2025, with potential for further losses.

Industry View:

EEPC Chairman Pankaj Chadha stressed the need to adapt to global uncertainties. He welcomed steps like a bilateral trade deal with the US and emphasized the importance of diversifying export markets.

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