India’s Innovation Economy and EEPC India

Context:

The President of India addressed the Platinum Jubilee Celebrations of EEPC India and urged stakeholders to pledge towards making India a leading innovation economy.

About Engineering Export Promotion Council of India (EEPC):

Established in 1955, under the Ministry of Commerce and Industry, Government of India.
It is the apex body for engineering exports, recognized as the official export promotion body.
Acts as a bridge between Indian manufacturers and global markets, assisting in technology transfer, market access, and export facilitation.

India’s Engineering Exports

Engineering exports rose from USD 70 billion in 2015 to over USD 115 billion in 2025.
Contributes nearly 25% of India’s total merchandise exports, making it a crucial driver of trade competitiveness.
India’s engineering goods include machinery, transport equipment, iron and steel products, industrial machinery, and electrical goods.

Global and Strategic Significance

Global Value Chains (GVCs): EEPC plays a role in integrating Indian firms with GVCs.
Innovation Economy Goal: High-quality, low-cost engineering services combined with Global Capability Centres strengthen India’s innovation ecosystem.
Trade Diplomacy: With changing World Trade Order and International Economic Order, India’s export councils are strategic tools for securing markets, addressing trade barriers, and boosting competitiveness.