India Machine Tools Market - Growth, Overview & Outlook
India Machine Tools Market is anticipated to grow at a steady pace during the forecast period, thanks to technological developments such as multi-axis arms and robots and the expansion in the manufacturing sector. In addition, the increased emphasis on rising productivity and decreasing downtime is fueling market expansion. In September 2021, the government approved a PLI scheme worth Rs 26,058 crores (USD 3.53 billion) for the auto industry and drone industry to boost India’s manufacturing capabilities, which is expected to aid the machine tools market in India over the next few years. Machine tools are instruments that are used to handle machining metal or other hard materials. Milling machines are quite versatile and can carry out a wide range of tasks, including gear cutting, filleting, turning, chamfering, and drilling, among others. They also come with certain cutting- and shaping-related equipment. Machine tools, by definition, are tools that make people's labo...