Engineering Exports Seen at Record $150 Billion in FY27; April-September Up 20%
India's engineering exports are expected to reach an all-time high of $150 billion in FY27, EEPC India chairman Pankaj Chadha said on October 19, 2026. That compares with $122 billion last fiscal. The figure is a forecast by the industry body's chairman, not official data. Actual exports in April-September rose about 20% to $70.87 billion.
Engineering exports FY27: the numbers
| Reading | Figure | Signal |
|---|---|---|
| FY26 engineering exports | $122 billion | Previous record |
| FY27 expectation (EEPC) | $150 billion | About 22.9% higher |
| April-September FY27 | $70.87 billion | Up about 20% year on year |
| Monthly average, April-September | About $11.81 billion | Base for the second half |
Chadha said shipments are showing healthy growth in markets such as the US. He added that rising exports of iron and steel and their products, and of machinery, would help shipments. He gave no figures for the sectors or markets.
What the target implies for the second half
Reaching $150 billion requires about $79.13 billion in October-March, which is $150 billion minus $70.87 billion. EEPC data put April-September 2025-26 exports at $58.70 billion, which implies about $63.30 billion in October-March of last fiscal. On that basis, the second half must grow about 25% year on year, compared with about 20% in the first half. The required monthly average is about $13.19 billion, against $11.81 billion in the first half, or 11.7% higher.
A low base helps. EEPC reported that exports in October 2025 fell 16.71% year on year to $9.37 billion because of a sharp drop in shipments to the US, which the industry linked to US tariffs and a high base. Growth in the coming months will be measured against that weaker base.
Background
Engineering goods are among India's largest merchandise export groups. EEPC reported record exports of $116.67 billion in FY25, with the US the top destination. Last fiscal's $122 billion implies growth of about 4.6% over that. The forecast for FY27 would be about 22.9% above last fiscal.
Status of the forecast
The forecast is an expectation. It is not an official target of the Ministry of Commerce, and outcomes will depend on the global demand and trade policies that Chadha referred to only in general terms. Official trade data for October is due from the Commerce Ministry in November, and EEPC typically publishes its own analysis of engineering exports afterwards.
