Engineering Goods sector that constitutes the largest total exports basket of the country has witnessed the value of USD 81.8 Billion during April-December 2021. It was USD52.9 Billion last year during the same period. Thus the Engineering Goods sector has registered the impressive growth and it constitutes more than 27% of the country’s total exports basket.
Such stupendous growth has been registered across the top five export destinations of the country for Engineering Goods sector. It includes USA (14.7%), China (5.8%), UAE (5.1%), Italy (4%) and Germany (3.4%) in terms of the export of Engineering Goods.
This growth has been largely due to Zero duty Export Promotion Capital Goods scheme introduced by the Ministry of Commerce & Industry. It forms the part of Foreign Trade Policy (FTP) of the Government. To provide policy stability during the pandemic the present Policy extended for the year 2021-22.
The Engineering Goods sector comprises of industrial machinery, metal products, transport equipment, automobiles and its components, bicycles, transport equipment, renewable equipment and medical devices.
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