India’s engineering exports continue to show resilience despite several external challenges, according to EEPC India.
EEPC India chairman Pankaj Chadha on Wednesday said sustaining the growth momentum, engineering goods shipments during January 2025 stood at $9.41 billion, a growth of 7.4
percent year-on-year compared to $8.76 billion in the same month last year.
“This is the ninth straight month of positive growth for the Indian engineering sector showing that it is one of the key growth drivers of overall merchandise exports: he said.
The steady growth also indicated how the exporting community has adapted to the changing global trade scenario and navigated the challenges, Chadha opined.
On a cumulative basis, engineering exports grew 9.8 pc year-on-year to $96.74 billion in the April-January period of the current financial year 2024-25 as against $88.09 billion in the corresponding period a year ago, he pointed out.
“The conducive atmosphere for trade dialogue created by the recent visit of Prime Minister Narendra Modi to the US suggests there is no impending tariff threat from the Trump administration. This is quite a significant development considering that the US is the topmost destination for India’s engineering exports,” Chadha said in a statement.
“We remain hopeful about India and the US signing a trade deal by the end of the year and therefore stay optimistic about the export outlook going forward. There are other bilateral trade deals also in the pipeline such as those with the UK and the EU,” he concluded.