An Industry 'Engineered' For Growth

The engineering industry in India serves as a vital driver of economic development and industrial growth, contributing significantly to the GDP and exports. Mandar Wagh elaborates on how India's competitive advantages, the government's commitment to infrastructure and manufacturing sector, and heightened capital spending will synergistically foster industry growth

- Mandar Wagh

The engineering sector in India holds the distinction of being the largest within the industrial landscape, serving as a critical indicator of economic development and industrial growth, effectively forming the cornerstone of any robust economy.

This sector has assumed significant prominence, emerging as one of the leading contributors to the country’s Gross Domestic Product (GDP) and total merchandise exports. Moreover, it commands a substantial share, encompassing over a quarter of all factories operating in the industrial domain, and represents more than 60 per cent of the total foreign collaborations, underlining its pivotal role in India’s economic landscape.

The engineering industry primarily consists of two key segments including engineering construction and infrastructure, as well as engineering industrial equipment. The engineering sector specialising in construction and infrastructure encompasses areas such as roads, bridges, railways, airports, power and urban infrastructure, and the manufacturing of heavy electrical equipment. The industrial equipment segment addresses a wide range of requirements across various sub-segments, including process plant equipment, earth-moving and mining equipment, printing machinery, food processing tools, textile equipment, metallurgical equipment, mouldings machinery and machine tools. India is one of the world’s largest automotive markets, and the engineering industry is deeply involved in the production of vehicles, components and automotive technology.

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