UAE, Saudi Arabia, Mexico, and Turkey Emerge as Key Markets for Indian Engineering Goods

Strong Growth Across Key Markets

While the United States remains the largest importer of Indian engineering goods, contributing $9.3 billion to exports in April–September (a 6.2% growth), markets such as the UAE, Saudi Arabia, Mexico, and Turkey have significantly expanded their purchases. According to data from the Engineering Export Promotion Council (EEPC), these countries are emerging as crucial buyers.

The UAE, benefiting from a Free Trade Agreement with India, saw a remarkable 45% growth in imports, reaching $3.9 billion, making it the second-largest destination for Indian engineering products. Saudi Arabia imported $2.6 billion, reflecting an 18.4% increase, while Mexico saw a 19.5% rise to $1.9 billion. Notably, Turkey showed an impressive 14.4% growth, with imports totaling $1.66 billion.

“Near-Shoring” Opportunities and Economic Momentum

Adhip Mitra, Executive Director & Secretary of EEPC, highlighted Mexico’s strategic role as a “near-shoring” hub for Latin America. Similarly, Turkey’s robust economic performance and growing demand for Indian goods have fueled its rise as a major buyer.

Mixed Trends in Europe and Asia

Exports to Western Europe presented a varied picture. While shipments to the UK ($1.94 billion, up 7%), France ($1.15 billion, up 7.4%), and Germany ($2.6 billion, steady at zero growth) remained stable despite disruptions in the Red Sea, countries like Italy ($1.5 billion, down 24%), the Netherlands ($946 million, down 8.9%), and Belgium ($714 million, down 12.5%) experienced declines.

Asian markets showed contrasting trends. China ($1.3 billion, up 9.3%) and Japan ($1.15 billion, up 31%) recorded significant growth, while South-East Asian markets such as Indonesia ($1 billion, down 31%) and Malaysia ($724 million, down 20.5%) saw declines. Conversely, Singapore ($1.96 billion, up 15%) and Vietnam ($698 million, up 21%) increased their imports.

IESS XII: A Showcase of Indian Engineering Excellence

The upcoming 12th International Engineering Sourcing Show (IESS XII), scheduled for November 27–29 in Chennai, is expected to attract over 300 delegates from more than 40 countries. Major potential buyers, including Tata Steel, Jaguar Land Rover, Arcelor Mittal Nippon Steel, and Coastal Qatar, are set to participate.

The event will focus on four key themes: Subcontract India, Innovation India, Watteg India (energy and electrical goods), and Industromech India (industrial machinery). The exhibition aims to spotlight India’s engineering capabilities and strengthen export opportunities globally.