Karnataka’s Large and Medium Industries Minister M.B. Patil noted that the Indian machine tool industry is projected to generate revenue of $3.8 billion by 2030, largely due to the dominance of the metal-cutting segment.
Speaking at the inaugural event of IMTEX 2025, he added that India ranks 9th globally in machine tool production and 7th in consumption. He further highlighted 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.
“Karnataka is home to leading players such as ABB, Siemens, BHEL, and Larsen & 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 stated.
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.
Union Minister for Heavy Industries H.D. Kumaraswamy and Office bearers of IMTMA were also present at the event.