India's engineering exports fell 16.7% in October 2025, hit by U.S. and ASEAN demand drops and tariffs.

India’s engineering goods exports fell 16.71% year-on-year in October 2025 to $9.37 billion, hit by steep drops to the US (–14.5%) and ASEAN (–nearly 50%). Key sectors, including aircraft, spacecraft, and ships, plunged over 80%, while 23 of 34 engineering panels saw declines. Despite the October slump, cumulative exports from April–October rose 1.68% to $68.73 billion, with 27 panels growing. The sector’s share of total merchandise exports slipped to 27.27%. Industry pointed to US tariffs and trade policy changes, welcoming government export incentives totaling over ₹45,000 crores.