India’s economic success, driven by its manufacturing sector, (which is responsible for 50% of its industry and is currently growing at 13%) is due to the Indian engineering industry which represents the largest segment of Indian manufacturing.

The engineering sector employs more than four million people, is dominated by the private sector, has a low cost structure, large working age population and even larger highly skilled workforce with more than 200,000 engineering graduates leaving university every year.

In machine tools, the growth in imports was valued at more than £350m in 2006 compared with domestic production of £130m and exports of just £8m. These, and the related equipment and services supplied to the sector, valued in excess of £700m, are used predominantly by the aerospace and defence industries (30%), the auto industry (30%), the electronics industry (15%) and the remaining (15%) for general engineering for rail, power generation, white goods and infrastructure renewal. There’s enormous potential in India.