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.
The engineering sector in India attracts immense interest from foreign players as it enjoys a comparative advantage
in terms of manufacturing costs, technology and innovation. The above, coupled with favourable regulatory policies
and growth in the manufacturing sector has enabled several foreign players to invest in India..
The foreign direct investment (FDI) inflows into India's miscellaneous mechanical and engineering industries.
Important growth factors for India’s engineering sector in last one decade are:
- India’s labor cost advantage
- Preferred outsourcing destination
- Government has permitted 100% FDI in construction and development projects and some of the Key sectors
- De-licensing, removal of tariff protection, and promotion of SEZ’s
Government of every nation is keeping a tab on the engineering sectors to keep pace with projected GDP.
In developing and developed economies, the supplies, services and costing of capital intensive engineering
goods call for the right time projections and periodical stage checks
Politics and people are supporting the development and projects are becoming viable by way of
average interest rates for longer tenures to the developer and an investor.
Every day innovation, Change in Supplies & Policies of the nations, shrinking interest rates, collaborations with other business hubs,
delay in sourcing lead engineering segment highly competitive and sensitive and hence critical to forecast the continual changing parameters and bottlenecks.
COMPAXED expert team for the Engineering sector possesses the decade plus experience
in functional and consultation domains and committed to deliver the best for our reputed client base.
