Indian Engineering sector has witnessed a healthy turnaround over the past few years thanks to proactive Government policies, increased investments in infrastructure and industrial production.
IMPORTANT GOVERNMENT INITIATIVES:
• Appointment of the Engineering Export Promotion Council (EEPC) in charge of promotion of engineering goods, products and services from India. India currently exports transport equipment, light engineering goods like castings forgings and fasteners, machinery / equipments, etc.
• De-licensing of the sector with 100% FDI approval.
• Relaxation of excise duties on factory gate tax, capital goods, consumer durables, and vehicles, all of which will boost manufacturing and engineering sectors.
Apart from the uptick in the Engineering Industry, Infrastructure and construction sectors along with Development of water management, Electrification and Solid Waste Management, are witnessing rapid growth. All of these have in turn helped fuel employment opportunities for Engineers with the trend likely to stay that way at 5% year-on-year till 2025.