Between 2013 and 2023, the value added in the industrial machinery sector in India shows fluctuations, with peaks in growth in 2014 (+10.12%) and 2018 (+8.37%), and slight declines in 2016 (-2.11%) and 2019 (-2.6%). Despite these variations, the sector exhibits a general upward trend, having reached a value of 20.9 in 2023. The last two years show modest increases of 0.35% in 2022 and 0.46% in 2023. The five-year CAGR up to 2023 indicates a nearly negligible negative growth (-0.36%), reflecting a period of stagnation.
Future Trends to Watch For:
- Pipeline investment in automation and technology.
- Impact of global supply chain disruptions.
- Government policy changes affecting manufacturing incentives.
- Emerging markets and export opportunities.
