Development of India's Machine Tool Industry


India stands amongst one of the top producers are well as the consumers of the machine tools. With the launch of Make in India and the promotion of manufacturing units, for which the machine tools industry plays a major role, the growth has been highly exponential. The country is all set to play an important role all throughout the world in the Machine tool industry. Not only that but the investment opportunities are seen in the sector is also highly positive and showcases a really good situation.

As seen in the recent past, the machine tool industry had been in a not so good condition since the year 2000. However, with the increase in foreign investments in India for outsourcing products, the sector has been seeing rapid growth. The growth in the die tool manufacturers also gave an opportunity for the machine tool industry to grow. Now, the situation of the machine tool industry in India is such that it has been exporting high-quality machine tools to countries more advanced than us. Moreover, with the government’s schemes and outside sources to invent money in this rapidly growing industry, the future seems to be highly bright and secure.
There had been a number of advancements in the machine tool industry and the major two types of units can be classified into the numerically controlled machines and the manually operated ones. With the spread of awareness, more and more industrialists are opting for these highly advanced manufacturing machines. Moreover, it has given a chance to the newcomers in the field of sheet metal tools in India to easily set up their business and move forward in the development of the industry as well as the whole country.
The most important segments which have helped in the exponential growth of the machine tools industry in India are the automobile, aerospace, and consumer durables. With the regular advancements in the industry and the opportunities prevailed by the government, more and more foreign companies are outsourcing work for the Indian press tool manufacturers. This not only has pumped up the employment in the sector but has also been helping in the economical growth of the country.

Location: India

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