India ranks 17th in total production and 12th in consumption of machine tools in the whole worlds. The country already becomes the key player in the global machine tool industry and they are likely to see high-end tool manufacturing even as China keeps the lead in lower end machinery tool volume.

Industry expert generally believes that the whole phenomenon is effectively linked to the spurt in producing for which the machine tools segment serves as the mother industry.

The industry can be sectioned in several ways:

  • Based on the tool selection is controlled the industry can be classified into – CNC machines and conventional machines.
  • Based on how the metal is shaped in, the industry can be classified into–metal cutting machines and metal forming machines.
  • Based on their usage idea, the industry can be classified into – general-purpose machines and special-purpose machines.

Though the Indian machine tool business has its fair share of domestic manufacturers, they are recognized as a prominent importer of machine tools. in the following segments:

  • Auto Components
  • Chemicals
  • Automotive
  • Manufactured Goods and Engineering Products
  • Electronic System Design and manufacturing
  • Petroleum Refinery Products

Econstra’s ongoing market research for India helps with augmenting and executing a better roadmap to expand the global presence and include:

  • Viability Studies & Financial Analysis of the process:
  • Tariffs processes and Facilitating customs
  • Foreign Direct Investment agreement
  • Negotiation with Indian continents
  • Engaging top engineer and business development talent to the project.
  • Avoiding cultural blunders
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