India’s Engineering Exports Jump from $10 Million to $116 Billion: Piyush Goyal

New Delhi, Sept 8– India’s engineering exports have grown massively over the past few decades — from just **\$10 million in 1995** to **\$116 billion today**, Union Commerce and Industry Minister **Piyush Goyal** said on Monday. He believes the sector will continue to grow stronger with bigger goals in the future.

Speaking at an event organized by EEPC India, Goyal highlighted that **India’s trade power and small businesses (MSMEs)** are key to its success. He said India is capable of handling any global crisis and is trusted around the world for its quality and reliability.

He stressed the importance of making **high-quality products** that are **“Zero Defect, Zero Effect”** — meaning no flaws and no harm to the environment — and exporting them globally. “The world sees India as a reliable partner, and we must continue to live up to that image,” he said.

Goyal also spoke about India’s economic rise under **Prime Minister Narendra Modi**, saying the country has moved from being one of the weakest economies to now being **among the top five** globally. India has also been **the fastest-growing major economy** for the past four years, with a **7.8% GDP growth** last quarter — something he called a “world record.”

He credited GST reforms and tax cuts for boosting **domestic demand**, which in turn creates more **jobs** and increases **income**. He added that stronger **infrastructure spending** and rising **consumer demand** will help India reach its goal of becoming a global power.

Goyal also pointed out that the benefits of tax cuts should **reach ordinary people**, not just businesses, so that economic growth is shared fairly. He believes that when all sectors of India support each other like one family, **inclusive and sustainable development** will naturally follow.

“India has the potential to become a role model for the world,” he said confidently.