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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 more than 24 percent to India’s total exports and remains the largest foreign exchange earner. Additionally the sector also contributes approximately 36% of the total manufacturing export. In fact India’s engineering exports recorded a significant hike for two consecutive years of 2017-18 and 2018-19 as is indicated in the figure below. Exports fell somewhat in 2019-20 due to several global trade issues that include US-China trade dispute and increased protectionism among European economies and high raw material prices within the country. India’s engineering exports stood at USD 76.3 billion in 2019-20 as against USD 81 billion during fiscal 2018-19 dropping by 16.5 percent.

Source: DGCI&S

Transformation

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

Composition of Indian Engineering Export (1956-57)

Source: DGCI&S

Today, out of total engineering exports, the proportion of consumer durables decreased from 34% in 1956-57 to 19.4% in 2019-20, while the proportion of capital goods increased considerably from 12% in 1956-57 to 58% in 2019-20.

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 39% 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:

Region wise Export of Engineering Goods (1956-57)

Source: DGCI&S


Region wise Export of Engineering Goods (2019-20)

Source: DGCI&S


Panel wise India’s engineering exports in 2019-20
US$ Million
Product Panel MARCH, 2019 MARCH, 2020 Growth APRIL,2018 - MARCH,2019 APRIL,2019 - MARCH,2020 Growth

Iron and Steel and Products made of Iron and Steel

Iron and Steel

906.93

627.05

-30.9

9731.16

9260.74

-4.8

Products of Iron and Steel

723.35

461.36

-36.2

7259.37

7004.58

-3.5

Sub Total

1630.28

1088.41

-33.24

16990.5

16265.3

-4.27

Non-Ferrous Metals and Products made of Non-Ferrous Metals

Copper and products

128.83

57.88

-55.07

1067.18

918.11

-13.97

Aluminium and products

490.7

381.49

-22.26

5730.87

5114.52

-10.75

Zinc and products

36.86

56.54

53.39

603.01

569.07

-5.63

Nickel and products

5.58

4.14

-25.81

73.55

98.74

34.25

Lead and products

37.86

26.57

-29.82

402.9

372.06

-7.65

Tin and products

1.25

0.48

-61.60

9.83

9.86

0.31

Other Non-Ferrous Metals

53.5

39.11

-26.90

545.67

546.37

0.13

Sub Total

754.58

566.21

-24.96

8433.01

7628.73

-9.54

Industrial Machinery

Industrial Machinery like Boilers, parts, etc

127.16

48.72

-61.7

824.42

815.68

-1.1

IC Engines and Parts

269.85

188.36

-30.2

2759.32

2555.68

-7.4

Pumps of all types

100.18

62.33

-37.78

1002.73

959.07

-4.35

Air condition and Refrigerators

189.77

95.74

-49.5

1983.63

1383.08

-30.3

Industrial Machinery for dairy, food processing , textiles etc

628.5

414.01

-34.1

5884.8

5674.27

-3.6

Machine Tools

47.38

27.98

-40.95

491.84

438.54

-10.84

Machinery for Injecting moulding, valves and ATMs

176.18

124.23

-29.5

1631.24

1761.4

8.0

Sub Total

1539.02

961.37

-37.5

14578

13587.7

-6.79

Electrical Machinery

776.41

689.08

-11.25

8415.06

8958.81

6.46

Auto Components and parts

Motor Vehicle/cars

831.33

528.06

-36.5

8510.5

7810.65

-8.2

Two and Three Wheelers

191.49

163.44

-14.6

2126.31

2110.78

-0.7

Auto Components/Part

546.73

365.77

-33.10

5784.5

5304.39

-8.30

Sub Total

1569.55

1057.27

-32.64

16421.31

15225.82

-7.28

Aircrafts and Spacecraft parts and products

175.74

77.4

-55.96

1715.28

1427.19

-16.80

Ships Boats and Floating products and parts

1845.15

239.72

-87.01

5699.6

4563.9

-19.93

Other engineering products

Medical and Scientific instruments

169.63

129.11

-23.89

1684.87

1768.37

4.96

Railway Transport

48.52

5.4

-88.87

377.14

238.95

-36.64

Hand Tools & Cutting Tools

71.84

49.32

-31.35

764.48

752.45

-1.57

Electrodes Accumulators

5.32

3.94

-25.94

54.2

55.22

1.88

Accumulator and Batteries

33.31

25.96

-22.07

375.37

410.83

9.45

Bicycle & Parts

42.03

24.47

-41.78

396.28

373.15

-5.84

Cranes Lifts & Winches

53.46

41.73

-21.94

503.66

566.34

12.44

Office Equipment

14.49

11.88

-18.01

141.27

189.24

33.96

Other Construction Machinery

160.83

88.1

-45.22

1660.78

1406.39

-15.32

Prime Mica & Mica Products

3.69

1.95

-47.15

34.33

39.43

14.86

OTHER MISC. ITEMS

268.45

205.58

-23.42

2710.39

2817.68

3.96

Sub Total

871.57

587.44

-32.60

8702.77

8618.05

-0.97

Total engineering exports

9162.3

5266.9

-42.52

80955.54

76275.54

-5.78

Source: DGCI&S

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