Kolkata: Despite challenges and uncertainties on the external front, India’s engineering exports sector has shown remarkable resilience with positive ongoing growth momentum for the last eight months as it grew 8.35 per cent year-on-year to US$10.84 billion in December 2024, according to EEPC India.
This is the eighth straight month of positive growth. Cumulatively, engineering goods exports grew 9.94 pc year-on-year to $87.21 billion in April-December period of current financial year 2024-25 as against US$79.33 billion in the same period of the previous
year.
” The positive growth in engineering exports suggests that the exporting community has successfully adapted to the emerging market dynamics and new challenges,” EEPC India chairman Pankaj Chadha said on Thursday.
” There is growing apprehension that once the Trump 2.0 administration assumes charge, some countries with which the US has a sizable trade deficit could face higher tariffs. This is likely to disrupt global trade and also affect India. As the US remains the top market for
Indian engineering goods, we remain cautious of the possible fallout of tariff hikes by the Trump government,” he added.
” We, however, remain hopeful that the government will support the engineering sector in case there is any risk to the growth. Some of our pre-Budget proposals, if accepted by the government, could help the industry continue its stellar performance,” Chadda concluded.
EEPC India is the trade and investment promotion organization for the engineering sector that sponsored by the Ministry of Commerce & Industry and has a membership base of over 12,000 out of whom 60 pc are SMEs.
