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Research Paper | Economics | India | Volume 10 Issue 4, April 2021 | Rating: 6.2 / 10
New Economic Reforms and Changes in Trends of Indias Engineering Goods Exports
Abstract: The Engineering Goods Exports sector is an integral part of India's Export sector which contributes about 25 % of in its total exports earnings. The Engineering Goods Exports have experienced tremendous growth during the last three decades as we can see that the value of Engineering Goods Exports which was about 18 b US $ in 1990, now has increased to 81 b $ in 2019. The Engineering Goods Exports Industries constitutes about the 30 % share in Industrial Production Index. There have been tremendous change in the direction and composition of India's Engineering Goods Exports since the implementation of New Economic Reforms in 1991. This sector also provides employment opportunities to about 44 lakh skilled and unskilled labourers in the country. The Engineering Export industry is one of the most fast growing industries in India. The export sector has played a very significant role in the development of India's Economy during the last two three decades. The major item of Engineering Exports constitute the Iron and Steel products, Automobile Products, Motor Vehicle, Cars, Capital Goods, Heavy Machinery, Computer Hardware etc. The Iron and Steel constitute the largest share in India's Exports of Engineering Products with 14.71 % share in total Engineering Goods Exports. An Attempt have been made about the change in trends, Composition and Direction of India's Engineering Goods Exports after the Implementation of New Economic Reforms in 1991 (NEP-1991).
Keywords: Engineering Goods, Engineering Exports, Trends of Engineering Goods Trade, Exports Sector, New Economic Reforms
Edition: Volume 10 Issue 4, April 2021,
Pages: 157 - 165