Value of machinery exported from India FY 2023, by type

Among the various kinds of machinery exported from India in financial year 2023, electric machinery and equipment had the highest value, followed by industrial machinery for dairy, food processing and textiles valued at over eight billion U.S. dollars.

Machinery industry in India

Machinery industry in India provides a crucial means of production for entities in the manufacturing segment and construction industry as well as public utility sectors. This industry was one of the newest branches of India’s modern industry after independence in 1947. Subsequently, it became one of the largest industrial sectors in India. Some of the most important subsectors are electric machinery, earthmoving and mining machinery and dyes, mold and the press tools industry.

Exports from India

India’s major exports included engineering goods, gems and jewelry, and petroleum products. Additionally, drug and pharmaceuticals were also important exports from India. Other major exports included spices, tea, coffee, tobacco in agriculture, and iron and steel from heavy industry. India was also one of the biggest exporters of IT software and services, predominantly to the United States of America. The institutional focus on promoting exports by successive governments could be one of the primary reasons for the growth of the export sectors of the economy over the years.