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Machinery exports from India on the rise: DHL study news
Our Corporate Bureau
28 April 2006

Mumbai: The Indian manufacturing sector has displayed a strong growth of more than 9 per cent in the last two years, with the capital goods sector registering a growth of 14-15 per cent, states the DHL India Trade Outlook Report, a comprehensive monthly report that measures the economy and trade in India. In this, the machinery manufacturers have played an important role in enhancing the competitiveness of the manufacturing sector.

India's exports as well as imports of machinery and mechanical appliances have witnessed growth in the last few years. Exports and imports of both machinery, and mechanical appliances (MMA) have reached a CAGR of almost 22 per cent during the period FY01-FY05.

India is a net importer of MMA, with value of imports being almost three times higher than that of exports. India 's exports of MMA were worth US $3.2 billion in FY05, while imports in the same year were valued at US $9.3 billion. USA is the leading export destination for the Indian Machinery industry, contributing to 17.4 per cent of India's total MMA exports in FY05. It is followed by the UK, UAE, Singapore and Germany.

India's exports of Industrial machinery have grown at 29.3 per cent per annum during the period FY01-FY05. They were worth $796.3 million in FY05. The US continues to be the largest export destination for Indian industrial machinery producers and along with UK and Germany forms a prominent export destination for auto machinery.

Although the Indian manufacturing sector has seen major improvements in its competitiveness and has established a presence in the world, it still has a long way to catch up with the other industrialised nations of the EU, the US and China.

also see : Leather footwear contributes to 67% to total footwear exports: DHL study

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Machinery exports from India on the rise: DHL study