Economy of India
Engineering industry of India is the largest sub sector of its industry GDP and is one of three largest foreign exchange earning sectors for the country. It includes transport equipment, machine tools, capital goods, transformers, switchgears, furnaces, cast and forged simple to precision parts for turbines, automobiles and railways. The industry employs about four million workers. On value added basis, India s engineering industry sector exported $67 billion worth of engineering goods in 2013 14 fiscal year, as well served part of the domestic demand for engineering goods.
The engineering industry of India includes its growing car, motorcycle and scooters industry, as well as productivity machinery such as tractors. India manufactured and assembled about 18 million passenger and utility vehicles in 2011, of which 2.3 million were exported. India is the world s largest producer of and the largest market for tractors, accounting for 29 Percent of world s tractor production in 2013. India is the 12th largest producer and 7th largest consumer of machine tools in the world.