Trump's victory will be a boost for engineering exports from India, EEPC chairman says

CHENNAI: Donald Trump's victory in the US presidential elections will be a boost for engineering exports from India. Engineering exports to the US will increase by an additional 5% over the coming years, Arun Kumar Garodia, chairman of the Engineering Exports Promotion Council (EEPC) said.

"Trump is a very good friend of India. I am sure that his administration will be building up huge ties with our country. India needs the US, and vice versa. The Chinese started exporting in a big way and they captured the market in the past 20 years. Now it's India's turn to capture that market," he told reporters here on Tuesday.

“We will see an increase in export of iron and steel products, electrical machinery, automotive, auto components and EVs to the US," he replied to a query on the specific products that would see growth.

Currently, the US is the largest market for India's engineering exports accounting for a share of 16%, followed by the UAE and Saudi Arabia at 5.4% and 4.8%, respectively. India's engineering exports stood at $109 billion in FY24.

According to Garodia, engineering exports will hit the levels of more than $118 billion in this fiscal (FY25). "Until Sept of 2024-25 (April-Sept FY25), the exports were to the tune of $56 billion. I will not be surprised if we achieve more than $125 billion of exports this year," he added.

Earlier, Raman Raghu, regional chairman (SR), EEPC said, the southern states accounted for 30% of the engineering exports in FY24 at $33 billion. EEPC is organising a three day international engineering sourcing show (IESS) between Nov 27 and 29 at the Chennai Trade Centre in the city. The event will showcase more than 100 engineering products.


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