‘Make in India’ a Reality
India is on the road to make the country a manufacturing hub the popular ‘Make in India’ initiative of the government. The increase in development and growth in local manufacturers of capital goods has resulted as a key to achieving this goal of the country.
The Exclusive Whitepaper of Frost & Sullivan titles ‘Smart and Sustainable Manufacturing- The Changing Era of Indian Manufacturing’ states that the demand for machine tools in India is likely to grow at a CAGR of 15% annually, and roughly 60% of the demand is addressed by imports currently.
Such high potential of the industry has given a boost the manufacturers of the Indian machine tool industry to expand and diversify their range and grow at an incredible pace resulting in reducing the imports of the country.
‘Make in India’ is today at its beaming glory as the initiative has become a reality, and the country is moving towards becoming stronger on building and developing new products and technologies.