• Dr.G.Vijaya Sree

Objective of the study: Machine tools industry plays a key role in the economic development of a country. The author tries to study and analyze the performance, developments, the opportunities and challenges in the Indian Machine Tool Industry, in the context of the Government of India’s ‘Make in India’ initiative The Machine Tool Industry: The Machine Tool Industry is key to the government’s flagship ‘Make in India’ initiatives, given that it makes the machines required for the manufacturing sector. Machine tools are considered a strategic industry segment. It is a part and parcel of manufacturing, particularly discreet manufacturing segments such as Automobiles, Defence, Railways, Plastic machinery, Medical, Electronics and White goods. These products cannot achieve a high level of excellence without the machine tools segment being very strong. The future for machine tools in India: As per one market research analyst, the production of machine tools in India will grow at a CAGR of 13% in the next 5 years. There are more opportunities in high-end manufacturing in sectors like Railways, Defence and Aerospace. Automotive will become bigger, while Medical electronics is also expected to grow. All these would require machine tools playing an important role in productivity. Need for improvement: As many customers prefer to buy imported machines for manufacturing larger-sized components and Components requiring High Precision and Accuracy, there is a need to develop indigenous machine tools to cater to the future manufacturing technology requirements. There is a strong correlation between machine tool and manufacturing globally. If you lose your power in machine tool, you lose power in manufacturing technology. Make in India Initiative-There is a positive sentiment in almost all manufacturing segments, with a direction for people to invest and an opportunity for India to become a manufacturing hub.

Machine tools, Economic development, Make in India, Manufacturing hub

"A STUDY OF THE INDIAN MACHINE TOOL INDUSTRY, KEY TO THE GOVERNMENT OF INDIA’S", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 3, page no.g482-g489, March-2022, Available :http://www.jetir.org/papers/JETIR2203663.pdf

"A STUDY OF THE INDIAN MACHINE TOOL INDUSTRY, KEY TO THE GOVERNMENT OF INDIA’S", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 3, page no. ppg482-g489, March-2022, Available at : http://www.jetir.org/papers/JETIR2203663.pdf