Engineering Exports Navigate Choppy West Asia Waters to Achieve Growth
Engineering exports faced significant declines in March to UAE and Saudi Arabia due to the West Asia crisis but ended the year with growth. Despite regional hurdles, the sector increased overall. Record highs were driven by vehicles, metals, and machinery to global markets including the US, Germany, and China.
- Country:
- India
Engineering exports to the UAE and Saudi Arabia plummeted in March due to the West Asia crisis, according to EEPC data. Exports to the UAE fell sharply, declining by 66.8 per cent, while those to Saudi Arabia dropped by 45 per cent. This decline impacted the movement of cargo ships in international waters.
However, despite challenges in key West Asian markets, the engineering sector recorded a 1.13 per cent rise in exports, reaching USD 10.94 billion in March. Over the fiscal year 2025-26, exports grew by 4.86 per cent to USD 122.43 billion, setting a new record. The sector aims to increase exports to USD 250 billion by 2030.
Growth was driven by high exports of motor vehicles, metals, and machinery, with the US being the largest market despite high tariffs. Germany, the UK, China, and Korea also saw increased imports of Indian engineering goods.
Google News