India's engineering exports is registering a double digit growth and is valued at USD 70 billion. Traditionally, India exports of engineering goods is restricted to UAE, USA and Europe. Off late, engineering exports is also picking up to eastern countries like Japan and Korea the engineering strongholds. The sector attracts a large no. of foreign players considering the large pool of engineers and low labour cost. The FDI inflows into the sector in the last fifteen years stands at USD 2644 million. The government of India has launched - Make in India -campaign to provide a thrust to the manufacturing sector. It is expected that the engineering sector market will reach 1.1 trillion US Dollars by the year 2020.
Godrej & Boyce, the consumer electronics major from India is planning to add a new production of air-conditioners in its Mohali plant in Punjab. The company expects is market share for air-conditioners to go from current 20% to 25-26% in coming years. To capitalize it plans to install a new production line and to cut refrigerators production where it estimates a reduction. Currently, the company have an installed capacity for 300,000 AC units per annum at our Shirwal plant near Pune. It may be noted, Godrej is fourth largest player in this segment after the American and Korean brands Read More
Alstom Transport India is expanding its capacity at its Sri City plant near Nellore in Andhra Pradesh. The company is gradually expanding manufacturing capacity from 7 metro train cars per month to 20 cars per month. The expansion is being planned keeping in mind the ever-rising demand for public transportation and new metro projects of Kochi Ahmedabad, Varanasi and Thiruvananthapuram. The indigenisation level was 70 per cent. The company which had started with an order book of about Rs.1,000 crore two years ago, has order book exceeding Rs.20,000 crore. It includes supplying 800 locomotives to the Indian Railways in Bihar and over 330 metro train cars for Chennai, Kochi and Lucknow Metro Rail Projects. The company will also export train cars to Sydney Metro Rail. Read More