The engineering sector is the largest of the industrial sectors in India. It accounts for 27% of the total factories and represents 63% of the overall foreign collaborations. The Indian Engineering Industry has grown rapidly in the last decade thanks to good
• The Indian machine tool production and consumption were estimated at Rs. 6,602 crore (US$ 879.38 million) and
Rs. 12,036 crore (US$ 1.6 billion) respectively, in FY21.
• Market size of textile machinery stood at Rs. 35,000 crores (US$ 5.4 billion) in 2021.
• Textile industry exports stood at Rs. 3,307 crores in 2020-21, as against Rs 2,556 crores achieved during 2019-20.
• The boiler industry’s market size is expected to grow at a CAGR of 6% to reach US$ 194 million by 2025.
• The market size of high voltage switchgear including panels and low voltage switchgear stood at Rs. 4,793
crore (US$ 679.95 million).
In 2021, between April and December, India exported eng/ineering goods worth US$ 81.8 billion compared with the US$ 52.9 billion recorded in the same period in 2020.
India exports engineering goods mostly to US and Europe, which account for over 60% of the total export. Engineering exports were recorded at US$ 75.90 billion in April (FY20) and reached US$ 60.25 billion in January (FY21).Industry
Electrical equipment market is forecasted to grow at 12% CAGR to reach US$ 72 billion by 2025 from US$ 48-50 billion in 2021.
According to the National Association of Software and Service Companies (Nasscom), India’s share in the global engineering and research and development (ER&D) market is likely to expand at a CAGR of 12-13% to reach US$ 63 billion by 2025.Investments
FDI inflow for miscellaneous mechanical and engineering industries stood at US$ 3.88 billion between April 2000-December 2021 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).