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The Indian Engineering sector has witnessed a remarkable growth over the last few years driven by increased investments in infrastructure and industrial production. The engineering sector, being closely associated with the manufacturing and infrastructure sectors, is of strategic importance to India’s economy.

India became a permanent member of the Washington Accord (WA) in June 2014. The country is now a part of an exclusive group of 17 countries who are permanent signatories of the WA, an elite international agreement on engineering studies and mobility of engineers.

The capital goods & engineering turnover in India is expected to reach US$ 125.4 billion by FY17.

India exports its engineering goods mostly to the US and Europe, which accounts for over 60 per cent of the total exports. Recently, India's engineering exports to Japan and South Korea have also increased with shipments to these two countries rising by 16 and 60 per cent respectively. Sri Lanka, Nepal and Bangladesh have also emerged as the major destinations for India's engineering exports.

According to data from the Engineering Export Promotion Council of India, engineering exports from India grew 11.33 per cent year-on-year to reach US$ 65.23 billion in FY 2016-17.

The foreign direct investment (FDI) inflows into India's miscellaneous mechanical and engineering industries during April 2000 to March 2017 stood at around US$ 3.31 billion.

Key Players of Engineering & Capital Goods

Company

Revenues (FY 17)

Products

Larson & Turbo

US $ 17.07 billion

Engineering & construction, cement, electricals & Electronics

Bharat Heavy Electricals Ltd

US $ 4.47 billion

Power generation, transmission, transportation

Siemens India Ltd

US $ 1.70 billion

Power generation & distribution equip, transportation sys, communication & healthcare products

ABB India Ltd

US $ 0.60 billion

Transformers, switchgears, control gears

Crompton Greaves Ltd

US $ 0.61 billion

Power generation & transmission equip

Engineers India Ltd

US $ 0.22 billion

Highways & bridges, mass rapid transport sys construction, specialist material manufacturing

Kirloskar Oil Engines Ltd

US $ 0.45 billion

Engines, engine bearings & valves, grey iron casting

Cummins India Ltd

US $ 0.84 billion

Power generation, construction & mining equip, fire pumps & cranes, compressors

Thermax

US $ 0.73 billion

Boilers, heaters, air pollution & purification, absorption cooling

BGR Energy

US $ 0.53 billion

Boilers, turbines, generators

Major Segments Of Engineering

Heavy Engineering

Heavy Electrical, Heavy Engineering & Machine Tools, Automotive

Light Engineering

Low Technology Products, High Technology Products

 

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