Karnataka’s Minister for Large and Medium Industries, M.B. Patil, recently highlighted the promising future of India’s machine tool sector, which is anticipated to reach a revenue of $3.8 billion by 2030. This growth is expected to be driven primarily by the metal-cutting segment of the industry.
During the opening ceremony of IMTEX 2025, Patil pointed out that India holds the 9th position in global machine tool production and ranks 7th in consumption. He mentioned that the sector achieved over $2.2 billion in revenue in 2022.
The minister underscored Karnataka’s pivotal role in this industry, noting that the state contributes to 52 percent of the total machine tool production in India and is the third-largest contributor to heavy engineering nationwide.
“Karnataka hosts major industry players such as ABB, Siemens, BHEL, and Larsen & Toubro. The state’s access to a highly skilled workforce, cultivated through its esteemed educational institutions, provides a competitive advantage in fostering innovation and precision manufacturing,” stated Patil.
He also outlined the state’s proactive approach to promoting industrial growth, which includes forming vision groups for detailed sector planning and establishing collaborations with international industry organizations.
“Moving forward, sustainability will be a major focus as we implement environmentally friendly practices that align with global objectives and the interests of investors,” he added.
The event was also attended by Union Minister for Heavy Industries H.D. Kumaraswamy and other representatives from IMTMA.
