Engineering Exports Grow 7.3% in May: EEPC India
ECONOMY & POLICY

Engineering Exports Grow 7.3% in May: EEPC India

Engineering exports from India saw a robust growth of 7.3% year-on-year in May, reaching USD 9.98 billion, signaling a positive trend amidst global economic uncertainties, according to the Engineering Export Promotion Council (EEPC) of India.

The council reported that the April-May period of FY25 recorded total exports of USD 18.65 billion, slightly up from USD 18.25 billion in the same months of FY24. EEPC India Chairman Arun Kr Garodia expressed cautious optimism, noting the improvement in demand across key markets and anticipating further growth throughout the fiscal year.

"We remain cautiously optimistic with the upturn in shipments which reflects improvement in the demand scenario in key markets. The global economic outlook is expected to improve in the ongoing fiscal and exporting community remains optimistic," said Garodia.

He highlighted the potential impact of softening price pressures and easing interest rates in major advanced economies, which are expected to boost demand for engineering exports. Garodia also mentioned ongoing negotiations of Free Trade Agreements (FTAs), which could provide a significant boost to the sector once finalized within the fiscal year.

Despite positive near and medium-term outlooks, Garodia acknowledged challenges faced by exporters, particularly high ocean freight rates on key routes and competitive pressures from China.

"China's increased shipments to the US ahead of potential import duties from August may impact our exports," Garodia added.

In conclusion, while engineering exports show resilience with consistent growth, EEPC India emphasizes vigilance amidst evolving global trade dynamics.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Engineering exports from India saw a robust growth of 7.3% year-on-year in May, reaching USD 9.98 billion, signaling a positive trend amidst global economic uncertainties, according to the Engineering Export Promotion Council (EEPC) of India. The council reported that the April-May period of FY25 recorded total exports of USD 18.65 billion, slightly up from USD 18.25 billion in the same months of FY24. EEPC India Chairman Arun Kr Garodia expressed cautious optimism, noting the improvement in demand across key markets and anticipating further growth throughout the fiscal year. We remain cautiously optimistic with the upturn in shipments which reflects improvement in the demand scenario in key markets. The global economic outlook is expected to improve in the ongoing fiscal and exporting community remains optimistic, said Garodia. He highlighted the potential impact of softening price pressures and easing interest rates in major advanced economies, which are expected to boost demand for engineering exports. Garodia also mentioned ongoing negotiations of Free Trade Agreements (FTAs), which could provide a significant boost to the sector once finalized within the fiscal year. Despite positive near and medium-term outlooks, Garodia acknowledged challenges faced by exporters, particularly high ocean freight rates on key routes and competitive pressures from China. China's increased shipments to the US ahead of potential import duties from August may impact our exports, Garodia added. In conclusion, while engineering exports show resilience with consistent growth, EEPC India emphasizes vigilance amidst evolving global trade dynamics.

Next Story
Infrastructure Energy

BrightNight Commissions 115 MW Hybrid Power Project in Maharashtra

BrightNight, a prominent global renewable energy producer, has launched the first phase of its 115 MW hybrid renewable energy project, Optima Maharashtra, in Dharashiv, located in southern Maharashtra. This marks one of the state’s pioneering co-located wind and solar projects and signifies BrightNight's inaugural energy supply to India's national power grid, furthering the nation's goal of decarbonising its energy sector. Spanning around 14,000 acres, the project integrates cutting-edge wind and solar technologies, powered by BrightNight’s proprietary AI-driven PowerAlpha® platform. The ..

Next Story
Infrastructure Energy

Maha and Rajasthan Lead Solar-Powered Agriculture Under KUSUM Programme

Maharashtra and Rajasthan are leading the way in the adoption of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) programme, specifically under Component C. This component aims to scale renewable energy infrastructure, addressing both agricultural sustainability and energy security. The two states are expected to contribute over 10 GW of solar capacity under the PM-KUSUM programme by 2025. The PM-KUSUM programme consists of three key components: small-scale solar projects (Component A), the installation of standalone solar-powered pumps (Component B), and the solarisat..

Next Story
Infrastructure Energy

Odisha Floats EPC Tender for 4 MW Solar Projects with Battery Integration

The Odisha Renewable Energy Development Agency (OREDA) has released a tender for the engineering, procurement, and construction (EPC) of 4 MW rooftop solar projects with integrated battery systems. These projects will be implemented across various locations in Odisha under a rate contract basis. Bids must be submitted by January 27, 2025, with bid opening scheduled for February 1. Bidders are required to submit a bid security of Rs 300,000 ($3,600), a bid cost of Rs 10,500 ($126), and a processing fee of Rs 1,000 ($12). The selected bidders must be responsible for designing, engineering, suppl..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000