India's Machine Tools & Engineering Powerhouse Sets the Tone for BRICS 2026
Global South EXPOHUB AI Analytics · 2026-08-17
India — chairing BRICS in 2026 under the theme "Building for Resilience, Innovation, Cooperation and Sustainability" — enters its presidency with its industrial economy at a historic peak. Engineering goods exports hit a record USD 122.43 billion in FY26 (+4.86% YoY), the largest single component of India's export basket at 27.71%. The machine tools market — a core enabler of industrial capability — is projected to grow from USD 1.83 billion in 2025 to USD 3.51 billion by 2034, at 7.49% CAGR. The capital goods sector already commands a USD 92 billion market and 12% of manufacturing output, backed by ₹1.25 lakh crore in Union Budget 2026-27 for eight frontier manufacturing schemes. With manufacturing targeted to reach 25% of GDP by 2030 under Viksit Bharat 2047, India's industrial rise is a strategic anchor for the wider BRICS economy — culminating at the BRICS Business Forum in New Delhi, Sept 2026.
Context event: HIMTEX 2026