Indian machine tool industry statistics

According to the latest Indian Brand Equity Foundation (IBEF) report on machine tools market and opportunities, India holds 17th position in production and 12th position in consumption of the machine tools. India is all set to become a lead player in the global machine tool industry. Being one of the largest producers in the world's machine tool industry, the world's machine tool industry consists of manufacturing units of which some are present in the international companies and few are in the organised sector.

Though the Indian machine tool industry started at a slow pace. With the passage of time Indian machine tool industry successfully positioned itself in the global market. The United States of America, Germany and China give a tough competition to the Indian machine tool industry.

India has ample manufacturing units of the die tool manufacturers industry. Despite being highly fragmented, the Indian machine tool industry is expanding at an incredible growth rate. It is expected that the India machine tool industry will grow at a rate of 5.5 per cent per year throughout 2019. The main reason behind this expectation is the astonishing growing demand in the machine tools in countries like China and other developing and developed countries.

To meet up with the demand, the manufacturers should develop the capabilities to meet up with the demand. Out of 1000 units which the Indian machine tool industry has for the production of machine tools, accessories, subsystems, etc almost 25 are in the large scale sector which accounts to a total of around 70 per cent of the turnover and the rest are in the Ministry of Micro, Small and Medium Enterprise (MSME) Industry sector. Nearly 70 per cent of the Indian machine tool industry producers are ISO (International Standards Organization) certified.

Investment is always appreciable in the Indian machine tool industry. The press tool manufacturers or the sheet metal tool in the Indian machine tool industry need to develop the skills to cater to this need of the machine tools and yield a long term relationship of benefits by welcoming the investments.