Powering India's Manufacturing

The cutting tools market in India is growing rapidly, and this is due to the flourishing manufacturing industry in the country. Since India is aiming to become a manufacturing powerhouse, the need for precision cutting tools has increased. Several factors are contributing to this growth; the automotive industry, aerospace, defense manufacturing, and the general engineering industry. The automotive industry is especially significant in this growth because it is at the epicenter of the industry. Since India is one of the largest manufacturers of automobiles, the demand for effective and accurate cutting tools is rather high. Businesses are investing on superior cutting tools to improve productivity and quality standards in the market at home and abroad.

Moreover, the government policies like ‘Make in India’ have also helped in the market’s growth to a large extent. These policies have helped the cutting tools market through encouraging local production of the tools and attracting foreign investors. Also, the focus on the digitalization and application of Industry 4.0 technology is changing manufacturing processes. This transition calls for cutting tools that can easily fit in the automated and intelligent manufacturing systems. Also, the aerospace and defense industries are among the significant drivers of the market growth. Due to the recent emphasis on the ‘Make in India’ campaign particularly in the defense industry, there is a need to use better quality cutting tools in order to manufacture highly specialized and accurate parts.

In the current issue, we introduce you to the top companies in this segment. In this issue, Industry Outlook has identified the select few companies that have done particularly well in this industry with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.

We welcome your feedbacks and suggestion that you may have concerning this special issue.