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Engineering goods

Export transformers and converters

Distribution and power transformers, inverters and chargers; the USA takes about 40% of exports.

Free to exportHS 8504
HS code
8504
Electrical transformers, static converters (inverters, rectifiers, chargers) and inductors (HS 8504).
Export policy
Free to export
Free to export under ITC(HS) Schedule 2. Confirm the exact 8-digit line on the DGFT ITC(HS) search before shipping.
Registrations
3
IEC, GST and those below
India’s exports, 2025-26
US$ 3.2 bn
to 171 countries

What is exported

Indian makers in Gujarat, Maharashtra, Tamil Nadu, Karnataka and Madhya Pradesh supply transformers to utilities and EPC contractors, and inverters and power electronics to solar and industrial buyers. In 2025-26 India exported about US$ 3.2 billion under HS 8504; the USA took about US$ 1.3 billion, followed by the Netherlands, the UK and Germany (Commerce Department data).

Varieties, grades and forms

  • Distribution transformersOil-filled and dry-type units up to a few MVA for utilities and buildings.
  • Power transformersLarge units for substations and power plants, sold through tenders.
  • Static converters (inverters, rectifiers, chargers)Solar inverters, UPS, battery chargers and power supplies (8504 40) — the fastest-growing part of HS 8504.
  • Instrument and small transformersCurrent and voltage transformers, control transformers.
  • Inductors and reactorsShunt reactors and chokes for grids and drives.

Where it is grown or made

  • GujaratVadodara, Ahmedabad and Halol
  • MaharashtraMumbai, Nashik and Pune
  • Tamil Nadu and KarnatakaChennai and Bengaluru
  • Madhya Pradesh and Uttar PradeshBhopal and Noida

Export packing

  • Distribution transformers ship filled with oil or nitrogen on skids, in crates or containers; large power transformers ship as break-bulk with oil drained, nitrogen-filled and fitted with impact recorders.
  • Bushings, radiators and accessories are removed and packed separately.
  • Inverters and chargers go in cartons with foam; lithium batteries, if included, follow dangerous-goods rules.

Who buys abroad

  • Power utilities and grid companies (tenders)
  • EPC contractors for substations, solar and wind projects
  • Data-centre and industrial builders
  • Electrical distributors (small transformers and converters)

The quality buyers ask for

Standard
IEC 60076 series (power transformers), IEEE C57 for the USA, or the utility's own specification
Losses and efficiency
No-load and load losses within EU Ecodesign limits (Regulation (EU) No 548/2014, Tier 2) or US DOE efficiency rules
Rating
kVA/MVA, voltage ratio, vector group, impedance, cooling (ONAN/ONAF) and tap changer
Tests
Routine, type and special tests (including short-circuit withstand) witnessed by the buyer or a third party
Inverters and chargers
Grid codes and IEC 62109 / IEC 62477 safety for power converters; EMC limits

Certificates

  • Type-test and short-circuit test reportsRequiredUtilities ask for reports from a recognised lab before qualifying a supplier.
  • CE marking (Ecodesign; LVD for small transformers and converters)Often askedNeeded for products placed on the EU market.
  • UL listingOften askedOften needed for dry-type transformers and inverters in the USA.
  • ISO 9001 / ISO 14001RequiredExpected in utility vendor registration.

Shipping, storage and shelf life

Container load

Distribution transformers in containers or on flat racks; large power transformers as break-bulk or heavy-lift cargo with special road transport to the port.

How it travels

Sea from Mundra, Hazira, Nhava Sheva, Chennai or Kandla; large units often need port heavy-lift cranes.

Storage

Keep nitrogen pressure or oil level monitored; store accessories dry.

What goes on the pack and carton

  • Rating plate to IEC 60076 or IEEE: maker, serial number, rating, voltages, impedance, vector group, weights and oil volume.
  • Lifting, jacking and centre-of-gravity marks on the tank and crates.
  • Country of origin ('Made in India') on the product or its packing, as the buyer's customs require.
Where to get it tested

CPRI (Bengaluru and Bhopal) does short-circuit and type tests on transformers, and ERDA (Vadodara) tests transformers and electrical equipment. Some buyers require tests at an internationally recognised short-circuit lab; check the tender.

Benefits of exporting this product

Where to register

  • EEPC India (Engineering Export Promotion Council)RCMC — electrical equipment is under EEPC.eepcindia.org ↗

Quality and checks

  • Utilities require type-test and short-circuit test reports before qualifying a supplier.
  • EU: Ecodesign loss limits for power transformers (Regulation (EU) No 548/2014) and CE marking where it applies.
  • USA: check current duties on Indian goods and Section 232 duties on electrical steel content before quoting.
How to start small

Start with small distribution or instrument transformers for EPC contractors and distributors in the Gulf and Africa. Join EEPC, get type tests at CPRI or ERDA, and register as a vendor with contractors before bidding on utility tenders.

Where new exporters go wrong

  • Bidding without a valid short-circuit test report for the design.
  • Losses above the tender or Ecodesign limits — penalties or rejection.
  • Transit damage to large units without impact recorders and proper lashing.

Documents this product needs

Schemes that apply

Sources (6)
  1. Department of Commerce, Export Import Data Bank — India's exports of HS 8504 by country, 2025-26
  2. DGFT — ITC(HS) export policy search (Schedule 2)
  3. European Commission — Ecodesign product list: power transformers
  4. US Customs and Border Protection — Section 232 tariffs on steel, aluminium and derivative products
  5. US International Trade Commission — Harmonized Tariff Schedule (current US duty rates)
  6. EEPC India (Engineering Export Promotion Council) — official site

Trade data

Indian transformers and converters exports in numbers

From the Department of Commerce’s TradeStat, country by country. US$, Indian financial years (April–March).

Exports in 2025-26
US$ 3.2 bn
+12.7% a year on average, 2020-21 to 2025-26
Change from 2024-25
↑ +1.7%
US$ 3.15 bn → US$ 3.2 bn
Buyer countries
171
Average export price
US$ 10.30
per kg · 3,10,759 tonnes shipped · US$ 11.14 the year before
United States of America: US$ 1.3 bnNetherlands: US$ 152 mnUnited Kingdom: US$ 138 mnGermany: US$ 98.2 mnItaly: US$ 89.9 mnFrance: US$ 85.4 mnUnited Arab Emirates: US$ 76.1 mnChina: US$ 71.8 mnAustralia: US$ 68.6 mnMexico: US$ 63.1 mnSingapore: US$ 60.3 mnVietnam: US$ 56.3 mnSaudi Arabia: US$ 54.1 mnSpain: US$ 43.5 mnSouth Korea: US$ 41.1 mnJapan: US$ 38.1 mnNepal: US$ 37.6 mnMalaysia: US$ 32.8 mnCanada: US$ 29.6 mnKenya: US$ 28.8 mnTürkiye: US$ 27.9 mnOman: US$ 27.7 mnNigeria: US$ 26.9 mnBrazil: US$ 25.7 mnBelgium: US$ 24.6 mnUnited States of America: US$ 1.3 bnUnited States of AmericaNetherlands: US$ 152 mnNetherlandsUnited Kingdom: US$ 138 mnGermany: US$ 98.2 mnItaly: US$ 89.9 mnItalyFrance: US$ 85.4 mnUnited Arab Emirates: US$ 76.1 mnUnited Arab EmiratesChina: US$ 71.8 mnChinaAustralia: US$ 68.6 mnAustraliaMexico: US$ 63.1 mnSingapore: US$ 60.3 mnVietnam: US$ 56.3 mnSaudi Arabia: US$ 54.1 mnSpain: US$ 43.5 mnSouth Korea: US$ 41.1 mnJapan: US$ 38.1 mnNepal: US$ 37.6 mnMalaysia: US$ 32.8 mnCanada: US$ 29.6 mnKenya: US$ 28.8 mnTürkiye: US$ 27.9 mnOman: US$ 27.7 mnNigeria: US$ 26.9 mnBrazil: US$ 25.7 mnBelgium: US$ 24.6 mnIndia
Where Indian transformers and converters goes — among our 80 countries, 2025-26
2020-21: US$ 1.76 bn1.8k2020-212021-22: US$ 2.24 bn2.2k2021-222022-23: US$ 2.75 bn2.7k2022-232023-24: US$ 2.9 bn2.9k2023-242024-25: US$ 3.15 bn3.1k2024-252025-26: US$ 3.2 bn3.2k2025-26
India’s transformers and converters exports, year by year · US$ million

The price cycle

India’s average export price per kg each year (total value ÷ total quantity). Highest in 2022-23, lowest in 2020-21 — a 32% swing between them. Keep this swing in mind when you quote.

2020-21: US$ 8.72 per kg8.722021-22: US$ 9.58 per kg2022-23: US$ 11.48 per kg11.482024-25: US$ 11.14 per kg2025-26: US$ 10.30 per kg10.302020-212021-222022-232023-242024-252025-26
Average export price of Indian transformers and converters · US$ per kg · dotted = year in between not available

What next: a projection from the trend

The past trend carried forward — not a forecast by any authority. Sudden changes in policy, prices or demand are not in it.

2020-21: US$ 1.76 bn2020-212021-22: US$ 2.24 bn2021-222022-23: US$ 2.75 bn2022-232023-24: US$ 2.9 bn2023-242024-25: US$ 3.15 bn2024-252025-26: US$ 3.2 bn2025-262026-27: US$ 3.91 bn (US$ 3.46 bn – US$ 4.43 bn)3.9k2026-272027-28: US$ 4.39 bn (US$ 3.83 bn – US$ 5.04 bn)4.4k2027-28
India’s transformers and converters exports and projection · hollow bars = projection, line = likely range
By 2027-28: US$ 4.39 bn

Likely range US$ 3.83 bn to US$ 5.04 bn.

Trend
+12.3% a year
Fit (R²)
0.88
Based on
6 years of official figures

Method: a straight line through the logarithm of yearly exports (log-linear regression); range = ±1 standard error.

Biggest buyer countries

By value in 2025-26. Change is against 2024-25.

Name2025-26Change
1United States of AmericaUS$ 1.3 bn+17.7%
2NetherlandsUS$ 152 mn-17.9%
3United KingdomUS$ 138 mn-24.6%
4GermanyUS$ 98.2 mn+13.8%
5ItalyUS$ 89.9 mn+22.9%
6FranceUS$ 85.4 mn+17.5%
7United Arab EmiratesUS$ 76.1 mn+44.6%
8ChinaUS$ 71.8 mn-42.7%
9AustraliaUS$ 68.6 mn-26.7%
10MexicoUS$ 63.1 mn+1.7%
11SingaporeUS$ 60.3 mn-19.2%
12VietnamUS$ 56.3 mn+56.9%

Where demand is rising and falling

Only countries that buy at least US$ 1 million or 1% of India’s exports of this product. Change from 2024-25 to 2025-26.

High demand

  1. South KoreaUS$ 24.2 mn → US$ 41.1 mn+69.8%
  2. VietnamUS$ 35.9 mn → US$ 56.3 mn+56.9%
  3. United Arab EmiratesUS$ 52.7 mn → US$ 76.1 mn+44.6%
  4. SpainUS$ 32.2 mn → US$ 43.5 mn+35.1%
  5. JapanUS$ 28.6 mn → US$ 38.1 mn+32.9%
  6. ItalyUS$ 73.2 mn → US$ 89.9 mn+22.9%
  7. United States of AmericaUS$ 1.11 bn → US$ 1.3 bn+17.7%
  8. FranceUS$ 72.6 mn → US$ 85.4 mn+17.5%

Low demand

  1. ChinaUS$ 125 mn → US$ 71.8 mn-42.7%
  2. OmanUS$ 42.2 mn → US$ 27.7 mn-34.4%
  3. BrazilUS$ 39.2 mn → US$ 25.7 mn-34.4%
  4. NigeriaUS$ 40.5 mn → US$ 26.9 mn-33.6%
  5. BangladeshUS$ 34.8 mn → US$ 23.1 mn-33.6%
  6. NepalUS$ 53.3 mn → US$ 37.6 mn-29.5%
  7. AustraliaUS$ 93.5 mn → US$ 68.6 mn-26.7%
  8. United KingdomUS$ 183 mn → US$ 138 mn-24.6%

Which forms sell, and at what price

India’s exports by 8-digit tariff line, 2025-26. Average price = total value ÷ total quantity (TradeStat): the average of every shipment on that line, not the price of any one deal.

Tariff lineValue 2025-26ChangeQuantityAverage price
Others-of-static converters8504 40 90 · Electrical static convertersUS$ 942 mn+3.5%13.9 mn piecesUS$ 67.86 per piecewas US$ 55.41
Electrical static converters — electric inverters8504 40 10US$ 499 mn+5.4%760k piecesUS$ 656.54 per piecewas US$ 432.94
Electrical transformers, static converters and inductors, parts thereof — parts of transformers8504 90 10US$ 407 mn+20.9%1,17,426 tonnesUS$ 3.47 per kgwas US$ 3.28
Electrical static converters — battery chargers8504 40 30US$ 222 mn-2.1%23.5 mn piecesUS$ 9.43 per piecewas US$ 8.36
Parts of other electric pwr machinery of hd8504power machinery of hdg 85048504 90 90 · Electrical transformers, static converters and inductors, parts thereofUS$ 214 mn+11.7%9,701 tonnesUS$ 22.05 per kgwas US$ 20.01
Lqd dielectrc trnsfrmrs hvng a pwr hndlng capacity not excdng 650 kva8504 21 00 · Electrical transformers, liquid dielectric, having a power handling capacity not exceeding 650kVAUS$ 185 mn-18%66k piecesUS$ 2781.32 per piecewas US$ 2813.83
Lqd dielectrc trnsfrmrs hvng a pwr hndlng capacity>650 kva but<=10000 kva8504 22 00 · Electrical transformers, liquid dielectric, having a power handling capacity exceeding 650kVA but not…US$ 164 mn+4.2%5k piecesUS$ 31306.59 per piecewas US$ 33154.79
Other trnsfrmrs hvng a pwr hndlng capacity not excdng 1 kva8504 31 00 · Electrical transformers in item no. 8504.2, having a power handling capacity not exceeding 1kVAUS$ 139 mn+6%25.8 mn piecesUS$ 5.41 per piecewas US$ 4.80
Electrical static converters — other rectifiers8504 40 29US$ 101 mn-13.2%574k piecesUS$ 176.58 per piecewas US$ 187.04
Other trnsfrmrs hvng a pwr hndlng capacty excdng 16 kva bt not excdng 500 kva8504 33 00 · Transformers in item no. 8504.2, having a power handling capacity exceeding 16kVA but not exceeding 500kVAUS$ 69.6 mn-0.5%53k piecesUS$ 1302.48 per piecewas US$ 989.72
Lqd dielectrc trnsfrmrs hvng a pwr hndlng capacity>10000 kva and upto 50000 kva8504 23 10 · Electrical transformers, liquid dielectric, having a power handling capacity exceeding 10,000kVAUS$ 50.9 mn-19.1%224 piecesUS$ 227142.86 per piecewas US$ 170514.91
Other trnsfrmrs hvng a pwr hndlng capacity exceeding 500 kva8504 34 00 · Transformers in item no. 8504.2, having a power handling capacity exceeding 500kVAUS$ 39.6 mn+10.2%811 piecesUS$ 48791.62 per piecewas US$ 23455.26
Others-of-other inductors:8504 50 90 · Electrical inductors in heading no. 8504US$ 35.3 mn-31.1%84.8 mn piecesUS$ 0.42 per piecewas US$ 0.65
Lqd dielectrc trnsfrmrs hvng a pwr hndlng capacity>50000 kva and upto 100000 kva8504 23 20 · Electrical transformers, liquid dielectric, having a power handling capacity exceeding 10,000kVAUS$ 30.1 mn-35.2%152 piecesUS$ 198026.32 per piecewas US$ 228867.00

The world market

Each country’s own recorded exports and imports in UN Comtrade, 2023 (the latest year nearly every country has reported).

World imports
US$ 155 bn
2023
India among exporters
#14
of 161 countries
India’s share of world exports
1.8%
US$ 2.85 bn
Left for others to win
US$ 155.2 bn
exported by other countries

Top exporters — your competitors

  1. 1ChinaUS$ 46.5 bn 29.4%
  2. 2GermanyUS$ 14.5 bn 9.2%
  3. 3China, Hong Kong SARUS$ 8.26 bn 5.2%
  4. 4USAUS$ 8.14 bn 5.2%
  5. 5MexicoUS$ 6.45 bn 4.1%
  6. 6NetherlandsUS$ 5.56 bn 3.5%
  7. 7ItalyUS$ 5.35 bn 3.4%
  8. 8JapanUS$ 4.79 bn 3%
  9. 9ThailandUS$ 4.42 bn 2.8%
  10. 10Rep. of KoreaUS$ 3.52 bn 2.2%

Biggest buyers in the world

  1. 1USAUS$ 27.4 bn 17.7%
  2. 2GermanyUS$ 14.5 bn 9.3%
  3. 3ChinaUS$ 11.4 bn 7.4%
  4. 4China, Hong Kong SARUS$ 6.91 bn 4.5%
  5. 5NetherlandsUS$ 6.29 bn 4.1%
  6. 6MexicoUS$ 6.01 bn 3.9%
  7. 7JapanUS$ 4.25 bn 2.7%
  8. 8FranceUS$ 4.14 bn 2.7%
  9. 9ItalyUS$ 4.07 bn 2.6%
  10. 10United KingdomUS$ 4.06 bn 2.6%

Opportunity: what these countries buy from the world, and from India

Each country’s own recorded imports in UN Comtrade, latest year it has reported. The long light part of each bar is demand other countries are filling today.

United States of AmericaUS$ 29.8 bnIndia 3.5% · gap US$ 28.8 bn
GermanyUS$ 12.6 bnIndia 1% · gap US$ 12.5 bn
ChinaUS$ 10.2 bnIndia 1.4% · gap US$ 10 bn
NetherlandsUS$ 4.63 bnIndia 2.7% · gap US$ 4.5 bn
FranceUS$ 4.17 bnIndia 2% · gap US$ 4.09 bn
United KingdomUS$ 4.06 bnIndia 5.3% · gap US$ 3.85 bn
JapanUS$ 3.84 bnIndia 1.1% · gap US$ 3.8 bn
South KoreaUS$ 3.75 bnIndia 1.2% · gap US$ 3.71 bn
ItalyUS$ 3.51 bnIndia 1.8% · gap US$ 3.44 bn
CanadaUS$ 2.92 bnIndia 2.4% · gap US$ 2.86 bn

TradeStat’s 2023-24 quantities are double-counted, so that year is left out of the price. Sources: TradeStat — Export Import Data Bank, Department of Commerce · UN Comtrade database (United Nations Statistics Division) · Figures taken 29 October 2026.

Step by step

How to export transformers and converters

India has a strong transformer industry, from small distribution units to large power transformers, and exports have grown fast as grids, renewable projects and data centres expand worldwide. In 2025-26 the USA was by far the largest buyer of HS 8504 goods from India, followed by the Netherlands, the UK and Germany (Commerce Department data). Competitors are China, Korea, Turkey and European makers; global shortages of transformers have opened doors for Indian suppliers. Most business comes through utility tenders and EPC contractors, where qualification takes time. Openings are in distribution and power transformers for utilities and renewables, and in solar inverters and power electronics.

  1. 01Register with EEPC India

    Transformers and electrical equipment are under EEPC.

  2. 02Get qualified

    Register as a vendor with utilities and EPC firms; submit type-test reports and reference lists.

  3. 03Bid and design

    Price to the tender specification, including loss evaluation; design to the buyer's standard.

  4. 04Manufacture and test

    Routine tests on every unit; witness tests with the buyer or inspector.

  5. 05Plan heavy logistics

    Route survey, port handling and impact recorders for large units.

  6. 06Ship and claim benefits

    File the shipping bill on ICEGATE with the correct 8-digit HS code, declare RoDTEP and drawback, and keep the mill or test certificates with the export file.

  7. 07Get paid on milestones

    Project exports are usually paid by LC against shipment and commissioning milestones, with performance bank guarantees; ECGC can cover project risk.

Meet buyers

Trade fairs

Questions

Questions about exporting transformers and converters

Does HS 8504 include solar inverters?
Yes. Static converters such as inverters, rectifiers and chargers are under 8504 40, alongside transformers.
What incentives apply?
RoDTEP of 0.5–0.7% depending on the line and drawback of 1.7% of FOB.
Why do utilities need a short-circuit test?
It proves the transformer survives grid faults. Without a valid report for the design, many tenders will reject the bid.
Are there US tariffs to consider?
Yes. US duties on Indian goods have changed several times since 2025, and electrical steel content can attract Section 232 duties. Check the current rate on the USITC tariff and CBP before quoting.
Can a small firm export transformers?
Yes, often starting with small distribution or instrument transformers to EPC contractors and distributors in the Gulf and Africa.
Sources (9)
  1. EEPC India (Engineering Export Promotion Council) — official site
  2. European Commission — Ecodesign product list: power transformers
  3. European Commission — Low Voltage Directive (2014/35/EU)
  4. US Customs and Border Protection — Section 232 tariffs on steel, aluminium and derivative products
  5. US International Trade Commission — Harmonized Tariff Schedule (current US duty rates)
  6. Central Power Research Institute (CPRI), Bengaluru — testing of electrical equipment
  7. DGFT — Appendix 4R, RoDTEP schedule for DTA exports w.e.f. 10.10.2024 (Notification 32/2024-25); rates continued to 31.12.2026 by Notification 41/2026-27
  8. Gazette of India — Notification 77/2023-Customs (N.T.) dated 20.10.2023: All Industry Rates of duty drawback
  9. Department of Commerce, Export Import Data Bank — India's exports of HS 8504 by country, 2025-26

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