The engineering goods export of India had a share of 23.92% out of the total exports during the financial year 2022-23 from the country, as the exports jumped to US$ 107.04 billion as compared to US$ 112.16 billion during the last financial year 2021-22. In FY24 (until August 2023), the exports of engineering goods stood at US$ 44.62 billion. The impressive growth in Engineering Goods exports in recent years has largely been due to the zero-duty Export Promotion Capital Goods (EPCG) scheme of the Ministry of Commerce & Industry which forms part of the Foreign Trade Policy (FTP) of the Government of India. Exports of capital goods contributed about half of the total engineering exports from India. Primary iron, steel, and its products exports accounted for 21.63%, while Non-ferrous metals and products exports contributed 12.61% of India's engineering goods exports in 2022-23. 17.53% was composed of exports of industrial machinery, 10.24% of exports of electrical machinery, 20.31% of auto and auto parts, and the remaining 17.68% by miscellaneous items, including exports of aircraft, spacecraft and parts and ships, boats, and floating structures. The iron, steel, and products exports of India were valued at US$ 23.16 billion in 2022-23, witnessing a decline in growth of 27% over the previous year. Among the key products exported from non-ferrous metals and products made of non-ferrous metals, aluminium and products exports were the highest at US$ 8.87 billion in 2022-23 declining by 17.5% over the previous year. Industrial machinery recorded exports of US$ 18.77 billion, while electrical machinery exports were valued at US$ 10.97 billion in 2022-23.