The engineering sector inGujaratsaw exports grow despite negative global factors such as high and the Ukraine-Russia war.
The Indian engineering Industry registered exports worth $69 billion in April to December 2022, about 7% higher than the same period of the previous year.
Experts say machinery demand has risen and has driven this Growth. Gujarat accounts for around 36% of India’s engineering exports, according to data from theEngineering Exports Promotion Council(EEPC).
According to EEPC, from April to December 2021, Indian engineering exports were worth $64 billion, and grew by 7.8% to $69 billion in April-December 2022. However, December exports registered a decrease of about 3%.
Gujarat is a leading state in the engineering sector and companies serve demand for machinery from industries like automobiles, textiles and chemicals as well as supplying CNC machines, boilers and brass parts to many countries.