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India's Engineering Export performance

Accounting for 3% of the total GDP, the Indian engineering sector forms a crucial backbone of the Indian economy. The sector contributes almost 25 percent to India’s total exports and remains the largest foreign exchange earner. Additionally the sector also contributes approximately 40% of the total manufacturing export. In fact Engineering exports reached its second lifetime high at US$ 81.02 billion in 2018-19 surpassing the previous record high of USD 76.2 billion in 2017-18. However, uncertainties on global trade outlook followed by the novel Covid 19 pandemic pulled down engineering exports to US$ 73.11 billion in 2020-21 dropping by 2.95 percent.

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Panel wise India’s engineering exports in 2020-21

US$ Million
Engineering Panels Mar-20 Mar-21 Growth (%) Apr- March 2020 Apr- March 2021 Growth (%)
Iron and Steel and Products made of Iron and Steel
Iron and Steel 627.09 1679.72 167.86 9261.03 12102.3 30.7
Products of Iron and Steel 461.49 705.09 52.78 7005.63 6526.54 -6.8
Sub Total 1088.59 2384.81 119.07 16266.7 18628.8 14.52
Non-Ferrous Metals and Products made of Non-Ferrous Metals
Copper and products 57.88 279.48 382.88 918.97 1438.91 56.58
Aluminium and products 381.49 633.12 65.96 5114.68 5788.97 13.18
Zinc and products 56.54 65.4 15.68 569.07 742.39 30.46
Nickel and products 4.13 5.73 38.7 98.73 58.58 -40.67
Lead and products  26.57 27.57 3.76 372.06 348.2 -6.41
Tin and products  0.48 2.08 337.01 9.8 9.88 0.73
Other Non-Ferrous Metals 39.11 71.93 83.9 546.32 570.55 4.44
Sub Total 566.2 1085.32 91.68 7629.64 8957.48 17.4
Industrial Machinery
Industrial Machinery like Boilers, parts, etc 48.87 80.39 64.49 816.07 559.93 -31.39
IC Engines and Parts 188.36 286.2 51.94 2555.71 2481.24 -2.91
Pumps of all types 62.16 100.53 61.72 959.07 879.79 -8.27
Air condition and Refrigerators 95.58 122.33 27.99 1383.09 1065.76 -22.94
Industrial Machinery for dairy, food processing , textiles etc 361.99 569.12 57.22 4964.9 4701.37 -5.31
Machine Tools 26.9 49.99 85.86 428.79 414.16 -3.41
Machinery for Injecting moulding, valves and ATMs 124.23 161.54 30.03 1760.58 1591.2 -9.62
Sub Total 908.1 1370.09 50.88 12868.22 11693.44 -9.13
Electrical Machinery 688.97 824.6 19.69 8962.78 8100.41 -9.62
5. Automobiles and Auto components and Parts
Motor Vehicle/cars 522.8 517.88 -0.94 7623.83 5011.28 -34.27
Two and Three Wheelers 163.44 262.32 60.5 2110.71 2041.49 -3.28
Auto Components/Part 366.14 604.23 65.03 5304.82 4931.89 -7.03
Sub Total 1052.38 1384.42 31.55 15039.35 11984.67 -20.31
Aircrafts and Spacecraft parts and products 77.91 101.74 30.59 1424.23 1158.94 -18.63
Ships Boats and Floating products and parts 239.69 635.17 164.99 4558.2 4508.89 -1.08
8. Other engineering products
Medical and Scientific instruments 129.17 176.21 36.42 1768.47 1717.63 -2.87
Railway Transport  5.41 24.45 352.04 238.98 119.51 -49.99
Hand Tools & Cutting Tools 49.36 78.8 59.64 752.52 712.13 -5.37
Electrodes Accumulators 3.94 4.76 20.96 55.21 43.35 -21.48
Accumulator and Batteries 25.97 46.47 78.95 410.97 395.51 -3.76
Bicycle & Parts 24.37 39.76 63.11 384.17 348.1 -9.39
Cranes Lifts & Winches 41.73 58.65 40.55 566.49 476.19 -15.94
Office Equipment 10.65 18.2 70.81 177.4 138.55 -21.9
Other Construction Machinery 88.1 168.54 91.3 1407 1244.54 -11.55
Prime Mica & Mica Products 1.95 2.37 21.19 39.32 24.15 -38.58
OTHER MISC. ITEMS 205.51 332.2 61.65 2794.8 2867.3 2.59
Sub Total 586.16 950.4 62.14 8595.32 8086.94 -5.91
Total engineering exports 5208.01 8736.56 67.75 75344.41 73119.6 -2.95
Source: DGCI&S

Latest Engineering Export Trend- Highlight

Engineering exports well on track to achieve USD 107 billion exports by end of FY 2021

  • Total export target set by India for the fiscal 2021-22: USD 400 billion
  • Total engineering export target set by India for fiscal 2021-22: USD 107 billion
  • Cumulative engineering exports from India recorded 59.14 percent growth from USD 60988.62 million during April-October 2021-22 from USD 38324.66 Million during April-October 2020-21.
  • Overall, for the given period (April-October 2021-22), percentage of target already achieved in the engineering sector has been 57.0%

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Engineering exports: Monthly trend
The monthly engineering figures for 2021-22 vis-à-vis 2020-21 are shown below as per the latest DGCIS estimates:

Table 1: Engineering Exports: Monthly trend in 2021-22
(US$ million)

Month 2020-21 2021-22 Growth (%)
April 2306.35 7650.12 231.7
May 5466.82 8158.53 49.24
June 5825.88 8804.18 51.12
April-June 13599.06 24612.83 80.99
July 6432.18 9153.53 42.31
August 5790.82 9236.24 59.5
September 6579.26 8941.42 35.9
July-September 18802.27 27331.19 45.36
October 5923.34 9044.6 52.69
April-October 38324.66 60988.62 59.14
Source: DGCIS, Govt. of India.
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Table 2 : Trends in engineering panel Exports for October 2021 compared to October 2020 as well as April- October 2021-22 compared to April- October 2020-21

US$ Million

Engineering Panels OCTOBER, 2020 OCTOBER, 2021 Growth APRIL,2020 -OCT,2020 APRIL,2021 –OCT,2021 Growth%  
1. Iron and Steel and Products made of Iron and Steel    
A Iron and Steel 748.5 1935.8 158.6 6986 14335.9 105.2
B Products of Iron and Steel 630.4 842.7 33.7 3323.8 4747.2 42.8
Sub Total 1378.9 2778.5 101.5 10309.8 19083.1 85.1  
2. Non-Ferrous Metals and Products made of Non-Ferrous Metals  
A Copper and products 94.5 186.6 97.4 690.5 1457 111
B Aluminium and products 451.9 864.8 91.4 3145.4 5349.1 70.1
C Zinc and products 36 84.9 135.8 408.3 472.7 15.8
D Nickel and products 3 8.8 190.9 26.5 59.3 123.4
E Lead and products  25.9 32.5 25.8 207.6 270.7 30.4
F Tin and products  0.7 1.1 66 4.7 10.7 126.3
G Other Non-Ferrous Metals 58.4 75.8 29.8 265.2 458.5 72.9
Sub Total 670.3 1254.5 87.1 4748.3 8078 70.1  
3. Industrial Machinery          
A Industrial Machinery like Boilers, parts, etc 54.3 56.5 4.2 282.2 365.5 29.5
B IC Engines and Parts 256.7 282.7 10.1 1233.5 1908.4 54.7
C Pumps of all types 93.6 109.9 17.5 457.9 717.5 56.7
D Air condition and Refrigerators 91 125.6 38.1 536.3 775.7 44.6
E Industrial Machinery for dairy, food processing , textiles etc 421.3 588.6 39.7 2295.1 3761.3 63.9
F Machine Tools 38.7 58.4 50.7 200 365.5 82.8
G Machinery for Injecting moulding, valves and ATMs 146.3 174.7 19.4 842 1059.4 25.8
Sub Total 1101.8 1396.4 26.7 5847 8953.2 53.1  
4 Electrical Machinery 693.1 866.6 25 4559.3 5653.8 24
5. Automobiles            
A Motor Vehicle/cars 478.3 628.9 31.5 2433.3 4070.8 67.3
B Two and Three Wheelers 222.3 244.2 9.9 876 1716.8 96
C Auto Components/Part 476.5 571.9 20 2225.7 3919 76.1
Sub Total 1177.2 1445 22.8 5535 9706.6 75.4  
6 Aircrafts and Spacecraft parts and products 104.1 125.6 20.7 644.5 648.5 0.6
7 Ships Boats and Floating products and parts 46.1 133.5 189.9 2712.8 2501.1 -7.8
8. Other engineering products          
A Medical and Scientific instruments 159.4 175.6 10.2 895.3 1161.1 29.7
B Railway Transport  8.8 22.2 153.9 55.1 144.2 161.7
C Hand Tools & Cutting Tools 65.6 93.5 42.4 351.9 567.1 61.2
D Electrodes Accumulators 4 5.1 27.8 22.2 31.6 42.5
E Accumulator and Batteries 38.8 67.3 73.7 188.1 349.6 85.8
F Bicycle & Parts 31.5 39.5 25.6 167.4 260.5 55.6
G Cranes Lifts & Winches 41.6 74.9 79.9 223.3 380.3 70.3
H Office Equipments 10.8 16 48.8 71.2 105.4 48.1
I Other Construction Machinery 117.3 213.7 82.2 577.4 1156.3 100.2
J Prime Mica & Mica Products 2.2 2.3 4.1 13.6 21.2 56.3
K OTHER MISC. ITEMS 272 334.3 22.9 1402.5 2187.2 55.9
Sub total 751.8 1044.4 38.9 3968.1 6364.3 60.4  
Total engineering exports 5923.3 9044.6 52.7 38324.7 60988.6 59.1  

Source: DGCI&S

Transformation

EEPC India played instrumental role in transformation of India’s engineering export basket.

There has been a Gradual shift towards capital goods and heavy machinery.

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Today, out of total engineering exports, the proportion of consumer durables decreased from 34% in 1956-57 to 20% in 2020-21, while the proportion of capital goods increased considerably from 12% in 1956-57 to 50% in 2020-21.

Diversification

During the nascent stage, Indian engineering exports were mainly confined to Asia and to a small extent to Africa. Over the years, the scenario has completely changed and as of date, about 37% of total engineering exports are made to EU and North America. A table showing region wise exports share percentage out of total engineering exports is given below:

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