Machine tools to generate $3.8 bn revenue by 2030: Karnataka minister Patil

Karnataka's Large and Medium Industries Minister M B Patil on Thursday said that the Indian machine tool industry is projected to generate revenue of $3.8 billion by 2030, driven largely by the dominance of the metal-cutting segment.

Speaking at the inaugural event of IMTEX 2025, organised by the Indian Machine Tool Manufacturers' Association (IMTMA), he noted that India ranks 9th globally in machine tool production and 7th in consumption.

Highlighting that the sector generated over $2.2 billion in revenue in 2022, the minister emphasised Karnataka's crucial role in the industry, accounting for 52 per cent of India's total machine tool production and ranking as the third-largest contributor to heavy engineering in the country.

He also drew attention to Tumakuru's Integrated Machine Tool Park (TMTP), a state-of-the-art 530-acre facility that has emerged as a hub for domestic and international investments in the sector.

"Karnataka is home to leading players such as ABB, Siemens, BHEL, and Larsen and Toubro. The availability of a highly skilled workforce, nurtured by premier educational institutions, gives the state a competitive edge in driving innovation and precision manufacturing," Patil was quoted as saying in a statement.

The minister also highlighted Karnataka's proactive measures to foster industrial growth, including the formation of vision groups for detailed sectoral planning and partnerships with global industry associations.

"Sustainability will be a key focus as we adopt environmentally friendly practices that align with global goals and investor priorities," he added.