India’s Engineering Industry: Driving Growth & Innovation in Global Markets
India’s engineering sector stands at a transformative crossroads, with powerful voices urging the industry to convert global challenges into stepping stones for lasting progress. At the platinum jubilee celebration of the Engineering Export Promotion Council (EEPC), President Droupadi Murmu and Commerce Minister Piyush Goyal made a compelling case for why this sector is crucial for the country’s ambition to be an economic superpower.
Engineering Sector’s Strategic Importance
The EEPC’s seven-decade journey mirrors India’s rise as a key player in global engineering exports. President Murmu emphasized that the Council is not just a facilitator of trade, but a vital bridge linking Indian manufacturing prowess with international markets. She urged continued expansion into global value chains and a “Nation First” commitment, building on how India’s export destinations have evolved dramatically over the years.
Minister Piyush Goyal reinforced this vision by highlighting staggering growth: from just $10 million in engineering exports in 1955 to $116.67 billion today, now constituting roughly 25% of India’s overall merchandise exports. The government’s ambitious goal? Pushing engineering exports to $250 billion by 2030, forming one-quarter of India’s broader $1 trillion export target.
Vision for an Innovation Economy
President Murmu also set a bold roadmap for India’s future: becoming a global innovation hub. She pointed out that leading global companies have already established their capability centers in India, laying the foundation for this aspiration. She called for robust incentives and support systems to unlock the full creative potential of India’s workforce—reminding stakeholders that innovation-based economies consistently lead global prosperity.
Murmu reflected on India’s historical legacy, recalling times when the nation dominated both spirituality and trade. She urged contemporary policymakers and industry leaders to reignite that drive, positioning high-quality, competitively priced engineering solutions as India’s trump card in international markets.
Addressing Today’s Challenges Head-On
The celebration came at a time when Indian exporters face fresh obstacles. EEPC Chairman Pankaj Chadha detailed two major hurdles: the imposition of 50% tariffs by the US on most Indian engineering products, and the European Union’s forthcoming Carbon Border Adjustment Mechanism in 2026, which will put a cost on carbon emissions in exports.
Commerce Minister Goyal addressed these headwinds by championing “Atmanirbhar Bharat” or self-reliant India. He advised businesses to reinforce domestic supply chains, especially given recent international supply disruptions and urged them to pass on the benefits of GS.
Looking Ahead: Engineering India’s Prosperity
Despite external pressures, India’s economy is resilient and thriving—with a 7.8% GDP growth in the latest quarter and the engineering sector contributing over a quarter to merchandise exports. As the nation looks toward its goal of becoming a $30 trillion economy by 2047, the focus remains on turning every challenge into an opportunity for world-class growth and innovation.
From strategic expansion to nurturing home-grown talent and navigating global trade shifts, India’s engineering sector is truly at the heart of this ambitious journey.