New Delhi [India], August 15 (ANI): India's engineering services exports surged nearly eightfold over the past decade to USD 13.77 billion in 2024-25 from USD 1.77 billion in 2014-15, highlighting the growing contribution of the sector to the country's professional services trade, according to a NITI Aayog report.
The report, India's Services Sector: Insights on Regulatory Regime in Professional Services, citing Reserve Bank of India data on invisibles, said engineering services exports recorded a compound annual growth rate (CAGR) of 22.8 per cent during the ten-year period.
Imports of engineering services, in comparison, remained largely stable, rising from USD 1.59 billion in 2014-15 to USD 1.73 billion in 2024-25, registering a CAGR of just 0.9 per cent.
The sharp rise in exports comes as engineering continues to be a significant employment-generating profession in India. Between 2015 and 2022, engineering accounted for 67.2 per cent of all technical degrees, according to the India Employment Report 2024 cited by NITI Aayog.
Despite the sector's growing export footprint, the report flagged the absence of a comprehensive regulatory framework governing the engineering profession in India, unlike professions such as architecture and medicine.
It noted that several attempts have been made by the government's executive branch and professional bodies to introduce a legislative framework through an Engineers Bill. However, the proposed legislation is yet to be enacted by Parliament, leaving the profession largely unregulated.
Against this backdrop, NITI Aayog suggested establishing a central statutory framework for engineers engaged in construction and infrastructure-related activities.
"Establishing a central statutory framework for engineers engaged in construction and infrastructure related activities could help enforce minimum standards, prescribe a code of ethics, and introduce mechanisms for accountability," the report said.
It said such a regulatory framework would be particularly important in areas involving public safety and could improve structural safety, strengthen public confidence and support the professionalisation of engineering services in India.
The report also suggested recognising architects and engineers as allied professionals to provide regulatory clarity in areas where their work overlaps.
Citing Singapore's regulatory model, NITI Aayog said recognising the two as allied professionals could allow them to operate within their respective areas of expertise while also undertaking overlapping activities, without blurring their distinct professional responsibilities. (ANI)
India's engineering services exports surge nearly eightfold to USD 13.8 billion in a decade: NITI Aayog
