New Delhi, March 25 (IANS) Despite geopolitical conflicts and global economic slowdown, India's engineering goods exports recorded double-digit growth in February 2026 crossing $10 billion, a report said on Wednesday.
India’s engineering exports achieved 12.9 per cent year-on-year (YoY) growth as it touched $10.36 billion. Among 25 key markets for Indian engineering goods exports, shipments to 17 countries grew during the month, EPC India said in the report.
Engineering shipments to the US and UAE declined in February, but exports to China, Saudi Arabia, the UK, Singapore, and the Republic of Korea showed an uptick.
Engineering goods exports to China more than doubled to $436.18 million in February 2016 as compared to $207.45 million in the same month last year.
India's top market US saw shipments fall 4.9 per cent year-on-year to $1.57 billion in February 2026 while shipments UAE, the second largest market declined 14 per cent YoY.
EEPC India Chairman Pankaj Chadha called the performance in February a “silver lining for the engineering community,” amid slowdown in global trade due to supply chain breakdown in several countries and high freight charges.
"Exporters have been complaining of escalating financial burdens, including war-risk surcharges, high insurance premiums, and extraordinarily high freight costs. Energy prices have skyrocketed, and even in many cases, exporters have faced critical raw materials shortages," Pankaj Chadha said.
The share of engineering in total merchandise exports was recorded at 28.3 per cent in February 2026, as against 28.5 per cent in January 2026, according to government data.
Chadha also welcomed the government's timely intervention by bringing the Rs 497 crore Resilience & Logistics Intervention for Export Facilitation (RELIEF) scheme to provide credit insurance cover for exporters affected in West Asian conflict.
Prime Minister Narendra Modi has already indicated that the West Asia crisis could be very challenging not only for India but for the world economy.
—IANS
aar/pk