According to EEPC India, Kolkata, March 5 (PTI) India’s engineering goods export recorded 18 percent year-long growth in January 2025, reaching US $ 1.62 billion, even in total engineering shipments increased by 7.44 percent.
It comes on a day. US President Donald Trump criticized the high tariffs accused by India and other countries, called them “very inappropriate” and declared a mutual tariff from 2 April, which applies the levy to American goods.
During the April-January period of the current financial year, engineering exports to the US increased by about 9 percent from USD 14.38 billion to USD 15.60 billion in the same period last year.
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Exports to the UAE increased by 56 percent to US $ 610 million in January, while the cumulative shipment increased by 45 percent to USD 6.87 billion during the 10-month period of FY 25.
Despite geopolitical stress and increasing trade protectionism, India’s engineering exports have maintained a positive growth for the ninth consecutive month. However, the speed of increase in December increased from 8.32 percent to 7.44 percent in January.
In January 2025, the total engineering goods export was 9.42 billion USD, compared to USD 8.77 billion in the same month last year.
Pankaj Chadha, president of EEPC India, acknowledged the flexibility of Indian exporters, but warned that developing global trade policies is increasing unprecedented pressure on businesses.
“Engineering export community has managed to register a positive growth despite some of our major export sites constant conflicts and important global upheavals in the form of increasing protectionism. Global exports appear to be at the intersection of major changes with new geopolitical challenges. Trade policies around the world are developing to remove national concerns, but they are putting unprecedented pressure on businesses, ”said Chadha.
EEPC India, under the Union Ministry of Commerce, provides sourcing facility from India and encourages MSME to enhance its standard on equilibrium with international best practices. It also encourages MSME to integrate its business with a global value chain.
Chadha warned that the latest American tariffs are likely to face challenges in the coming days, saying that it would be important to maintain continuous government support competition in export credit and technology.
He said that more than 3,000 trade restrictions were implemented in 2024 globally, which, according to the Global Trade Outlook 2025 published by the International Chamber of Commerce (ICC), stated the risk to the multilateral trading system.
India’s top engineering export destination Germany, Mexico, Türkiye, South Africa, France, Japan, Nepal and Bangladesh recorded a positive growth in January. However, shipments in UK, Saudi Arabia, Malaysia, China, Italy and Spain recorded a negative growth.
The EEPC said that Indian engineering exports continued its year-on-year growth for the ninth straight month in January, but the growth rate increased from 8.32 percent to 7.44 percent in December.
The growth of January was mainly inspired by the export of aircraft, spacecraft and parts, electric machinery and equipment, automobiles and auto components, industrial machinery, iron and steel products, and medical and scientific equipment.
Meanwhile, shipments of ships, boats and floating structures recorded a sharp decline along with export of iron and steel.
Engineering exports during the April-January period during the financial year period were in US $ 96.75 billion, which shows an increase of more than USD 88.10 billion in the same period last year.
The share of engineering goods in India’s total goods export was 25.86 percent in January and 26.96 percent in the April-January period of FY 25, according to the quick estimates of the Department of Commerce. PTI BSM MNB
This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.