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Indian Engineering Sector - Overview

India's engineering exports is registering a double digit growth and is valued at USD 70 billion. Traditionally, India exports of engineering goods is restricted to UAE, USA and Europe. Off late, engineering exports is also picking up to eastern countries like Japan and Korea the engineering strongholds. The sector attracts a large no. of foreign players considering the large pool of engineers and low labour cost. The FDI inflows into the sector in the last fifteen years stands at USD 2644 million. The government of India has launched - Make in India -campaign to provide a thrust to the manufacturing sector. It is expected that the engineering sector market will reach 1.1 trillion US Dollars by the year 2020.