The Engineering Export Promotion Council of India reported that engineering goods exports from India to 23 countries out of 25 key markets recorded positive year-on-year growth in April, 2021. The U.S. continued to be the biggest market for Indian engineering goods followed by China. Exports to the U.S. jumped more than 400% year-on-year in April.
Among the 32 engineering goods categories which posted positive growth, exports of iron and steel recorded a jump of 210% in April 2021 compared to the same period last year. The non-ferrous segment as a whole, comprising aluminum, zinc, nickel, lead, tin and other products witnessed 110.5% growth in exports during this period.
Category of Exports | April 2020 | April 2021 | Growth +ve/-ve |
Industrial Machinery | $146.2 million | $1174.2 million | +ve 703% |
Electrical Machinery | $245.4 million | $853.1 million | +ve 247% |
Aircraft, spacecraft, and parts | $24.1 million | $74.5 million | +ve >200% |
Engineering Goods* | $2.3 billion | $7.60 billion | +ve 229.74% |
Ships, boats, and floating structures | $677.4 million | $455.4 million | -ve 32.8% |
Total | $10.36 billion | $30.6 billion | +ve295.65% |
*Engineering goods account for about one-fourth of the total merchandise exports from India and have significantly contributed to the recovery in the country’s external trade. |
Mahesh Desai, chairman, EEPC India said, “The growth momentum has continued for the past few months despite the Covid shadow. The high growth rate in outbound shipment is partly due to the low base of FY21, but recovery is indeed impressive. It mirrors global trends.”