1 hr ago

India's Tools Sector Targets Global Growth Under Atmanirbhar Push

India wants to make more tools and equipment inside the country.

This plan is linked to the government's Make in India and Atmanirbhar Bharat goals.

Industry leaders say small businesses must use newer digital technologies to grow.

They also say workers need safer tools, better maintenance and safer workplaces.

The global market for cutting tools could reach $30 billion by 2030.

India's power tool market is aiming for $15 billion.

India also hopes to export $25 billion worth of hand and power tools by 2035.

A large tools expo in New Delhi is showcasing products and new technologies from India and other countries.

Key facts

Global cutting tool market: Projected to reach US$30 billion by 2030.
India power tool market: Targeting $15 billion, driven by domestic consumption and the production-linked incentive ecosystem.
Export ambition: India's hand and power tools exports are targeting $25 billion by 2035.
MSME financing: A Rs 100 crore collateral-free credit push is being positioned alongside technology upgrades.
Industry 4.0 integration: More than 750 units in Gujarat are currently being integrated into an Industry 4.0 ecosystem under the RAMP scheme.
Expo participation: The event has more than 300 exhibitors, over 2,000 products, more than 150 new launches and over 8,000 industry professionals.
International participation: Exhibitors include participants from Germany, China, Taiwan and Hong Kong.

republicworld.com · 4 hrs ago