Imports of machinery and equipment are one of the most important components of the overall Indian import, after mineral fuels, metals, gems and precious stones. Over the years 2018-2019, the value of imports of machinery and equipment amounted to USD 96.2 billion, 26.8% more than in 2017, where the value of imports of the presented product group amounted to USD 70.5 billion.
The increase in India's demand for machinery and equipment is noticeable in bilateral Polish-Indian trade exchange statistics. In 2018, Polish exports of electrical machinery and equipment reached 68.7 million USD, which represents 8.9% of total Polish exports to India. This is 36% more comparing to the year 2013, when Poland exported worth 24.8 million USD electrical machinery and equipment. In contrast, exports of mechanical machinery and devices in 2018 generated revenue of 142.7 million USD, achieving a 18.6% contribution to Polish exports to India. The same export product brought 103.7 million USD in 2013. Over a 5-year scale, a 28% increase is noticeable.
Since several years machinery has been consistently 2nd in the rank, being tagged as the most important Polish product exported to the Indian market. Looking at the statistics and forecasts of the Indian market economic conditions, it can be predicted that this trend will continue, creating many business opportunities for Polish companies.
Currently, worth 30.6 billion USD imported to India machinery has its origin in China. It is 52 % of all imports from China to India and almost 45 % of all machinery import to India in general. An important source of import is also the USA (5 billion USD) and Germany (4.8 billion USD).
The extensive investment plans of central authorities in the coming years will be a catalyst for development for many less developed regions, e.g. the state of Bihar and Uttar Pradesh. Since 2014, the government of the Indian People's Party (BJP) with Prime Minister Narendra Modi has been implementing important structural reforms aimed at more sustainable economic growth. The government is implementing worth over 100 billion USD modernization projects such as "Make in India", "Skill India" and "Digital India" to stimulate additional investment and help to use in a better way the country's economic, demographic and digital potential.
Source (data): Statistics Poland (GUS)