Engg Exports At All-Time High

New Delhi: India’s engineering goods exports recorded a growth of 6.74 per cent to scale an all-time high of $116.67 billion for the financial year ended on March 31, 2025, according to figures compiled by the Engineering Export Promotion Council (EEPC).

The total value of engineering exports stood at $109.30 billion in 2023-24 while the earlier record level was $112.10 billion achieved in fiscal 2021-22. While the US remained the number one destination for Indian engineering exports in FY25, significant export growth was noted in the UAE, Singapore, Nepal, Japan and France. Engineering goods exports to the US grew 8.7 per cent to $19.15 billion in FY25 from $17.62 billion in FY24.

The share of engineering exports in India’s overall merchandise exports increased to 26.67 per cent in 2024-25 from 25.01 per cent in the previous fiscal year. "The performance of Indian engineering exports was remarkable in 2024-25 as it came during a period of extreme global uncertainty following geopolitical disturbances and economic slowdown in major developed and emerging nations. This was further aggravated by US President Donald Trump's decision to raise import duty on dozens of its trade partners, including India," said Pankaj Chadha, Chairman, EEPC India.

North America maintained its spot as the number one export destination with a share of 20.5 per cent, followed by the EU (17.1 per cent) and WANA (West Asia and North Africa) (16.7 pear cent) in 2024-25. In cumulative terms, all regions experienced growth, barring Oceania (-10.4 per cent) and the EU (-1.9 per cent) in the financial year ending March 2025. As per the WTO, a temporary tariff pause by the US may arrest some trade contraction, there are significant downside risks, including retaliation by other countries and policy uncertainty, which may further impact global trade volume by around 1.5 per cent, particularly hurting the export-oriented least developed countries.