Commerce Secy in Dialogue with EEPC in Camp to Reach $250bn in Five Years, QCO to Protect Domestic Steel Major Obstruction in Exporting

Ø Commerce Secretary Rajesh Agrawal Highlights Export Resilience and Calls for Greater Global Competitiveness

Ø India’s Engineering Exports Cross US$70 Billion in First Half of FY 2026-27, Register Nearly 20% Growth

· Export target: The Department of Commerce and EEPC India held a Chintan Shivir to develop a strategy for achieving US$250 billion in engineering exports by 2030, with a higher ambition of US$300 billion also proposed.

· Strong export growth: India’s engineering exports exceeded US$70 billion in the first half of FY 2026–27, registering nearly 20% growth year-on-year.

· Overall export performance: India’s merchandise and services exports grew 14% to US$476.20 billion during April–September 2026.

· Raw material availability: Discussions highlighted the need for quality raw materials at competitive prices and resilient supply chains to strengthen export competitiveness.

· Global market access: Greater utilisation of Free Trade Agreements (FTAs) was emphasised to expand market access and improve India’s global export position.

· QCO impact assessment: EEPC India was urged to prepare a comprehensive white paper examining Quality Control Orders (QCOs), their rationale, product coverage and impact on the engineering industry.

· Emerging challenges: Industry stakeholders discussed rising input costs, supply-chain disruptions, global overcapacity, sustainability requirements and climate-related trade measures.

· Industry–government cooperation: Commerce Secretary Rajesh Agrawal called for stronger collaboration and adoption of global best practices to enhance manufacturing competitiveness.

· Annual export outlook: EEPC India Chairman Pankaj Chadha expressed confidence that engineering exports could exceed US$140 billion in FY 2026–27.

[ABS News Service/24.10.2026]

The Department of Commerce and EEPC India, the country's apex engineering exports promotion body, held multiple brainstorming sessions as part of the Chintan Shivir for the Engineering Sector to chart a strategy for achieving total engineering goods exports of US$250 billion by 2030, deepening market access through better utilisation of free trade pacts and enhancing the global competitiveness of the sector by securing the long-term availability of key raw materials.

The sessions brought together top policymakers, industry leaders, sector experts and concerned stakeholders.

The discussions highlighted concerns about the availability of quality raw materials at competitive prices and the need for a resilient, competitive supply chain to support the long-term growth of engineering exports. It was noted that volatility in input costs, supply-chain disruptions, global overcapacity and trade-protective measures can affect the competitiveness of Indian engineering exports.

In his keynote address, Secretary, Department of Commerce, Rajesh Agrawal, highlighted the resilience of India’s exports amid global uncertainties.

India’s total exports of merchandise and services grew by 14% year-on-year to US$476.20 billion during April–September 2026–27. He also highlighted the potential to increase India’s share in global merchandise exports from approximately 2% to 15–20%, stressing the need to leverage the country’s competitive advantages.

During the first six months of FY 2026–27, engineering exports crossed US$70 billion, registering nearly 20% growth over the corresponding period of the previous year.”

Addressing emerging challenges, including Quality Control Orders (QCOs), sustainability-related trade measures and climate-linked requirements affecting market access, Mr. Agrawal emphasised the need for ambitious export targets to drive growth and strengthen global competitiveness. He further stressed industry-wide collaboration to address common challenges and identify practical solutions, while encouraging stakeholders to adopt relevant global best practices to strengthen India’s manufacturing ecosystem and enhance engineering export potential.

Addressing the gathering, Joint Secretary, Department of Commerce, Vimal Anand, underscored the promising export performance of the engineering sector and called upon EEPC India to revisit its ambition of achieving US $300 billion in engineering exports by 2030. He observed that, with sustained efforts and continued industry–government collaboration, engineering exports could potentially reach US $300 billion by 2030.

Mr. Anand also emphasised the need for EEPC India to prepare a comprehensive white paper on QCOs applicable to the engineering sector, examining the sectors and products covered, the rationale for their introduction and their impact on industry. Such a study would facilitate a more nuanced, evidence-based understanding of the implications of QCOs for the engineering sector.

Further, he called upon EEPC India to actively seek feedback from members across all its engineering panels to ensure that the challenges and concerns of different segments of the sector are comprehensively captured and adequately represented in policy deliberations.

Chairman, EEPC India, Pankaj Chadha, expressed confidence that India's engineering sector would continue to scale new heights through closer industry–government collaboration.

“We are very much on track to surpass export numbers of the previous financial year. Our medium- and long-term growth outlook remains positive. Engineering exports are expected to cross US$140 billion this current financial year,” he said.