Indian Engineering Sector Accounts for 25 per cent of India’s Total Exports and is the largest foreign exchang earner for the of merchandise goods.
35 per cent of exports belong to the msme sector.
The engineering sector in India was valued at US$ 83.4 billion as of 2014, growing at a CAGR of 15.8 per cent during 2011 to 2014. Overall market production was valued at US$ 80.5 billion in 2014, up 17.8 per cent from 2011.
The market size of capital goods and engineering sector is expected to reach US$ 125.4 billion by FY 2017. In the fiscal year 2014-15, India’s engineering exports was valued at US$ 70.4 billion, a growth of 14.6 per cent over FY 2013-14. A significant amount of Indian exports are in the sectors of transport equipment, capital goods, heavy machinery and equipment, and light engineering products such as castings, forgings and fasteners.
India is the 14th largest producer and 10th largest consumer of machine tools in the world. India is also fast emerging as a global research hub for engineering goods, with a significant amount of the country’s GDP invested in R&D The growth in India’s engineering industry by market size in value and production value since 2011 is as follows: