Indian Machine Tools Industry Gears Up for Global Standards to Support PM’s Vision of Making India a Manufacturing Hub

New Delhi, India –Dr Mahendra Nath Pandey, Cabinet Minister of Heavy Industries, Govt of India recently said that India’s performance in the machine tool industry has been steadily improving over the years. India’s strengths in this industry include its highly skilled workforce, competitive manufacturing costs, and the government’s push for a strong manufacturing sector through initiatives such as ‘Make in India’ and ‘Aatmanirbhar Bharat’.

He added that the country is now recognized as a hub for manufacturing and exporting machine tools and informed about the recently introduced six-year PLI Scheme for IT hardware, a step taken by the Union Cabinet to boost hardware manufacturing in India. He called it an excellent move towards making India a prime destination for IT hardware players.

According to Gardner World’s machine tool survey, India ranks 8th, up from 11th position earlier in the Machine tool Industry. In this backdrop the Minister said, “We have 8 Excellence Centers set up pan-India for research oriented works that include 80 percent government involvement through capital goods schemes and 20 percent industry involvement.”

Image Source: Magic Wand Media

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