The India Manufacturing Market is Segmented by Ownership (Public Sector, and Others), by End-User Industry (Automotive & Auto Components, and Others), by Plant Size (Large Enterprises), and by Region (North India, and Others). The Market Forecasts are Provided in Terms of Value (USD).

The India manufacturing market is booming, projected to reach [Value for 2033 from chart data] million by 2033 with a 9.11% CAGR. Discover key drivers, trends, and challenges shaping this dynamic sector, including insights on major players like Tata Motors and Mahindra & Mahindra. Explore market segmentation and regional analysis for strategic decision-making. Recent developments include: January 2023: Sundram Fasteners, an auto component manufacturer, won the biggest EV contract in its 60-year history. The Chennai-based company was awarded a USD 250 million contract by a leading global automobile manufacturer to supply sub-assemblies for its electric vehicle (EV) platform. The company estimates an annual sales peak of USD 52 million in 2026 with a supply of 1.5 million drive unit sub-assemblies per annum.January 2023: Tata Motors (an Indian multinational automotive manufacturing company) announced plans to set up plants in India and Europe to produce battery cells for electric vehicles. The company dominates the country's EV market, with total sales of 50,000 electric cars to date. It outlined plans to launch 10 electric models by March 2026.. Key drivers for this market are: The government has introduced several initiatives under the banner of "Make in India", India boasts a sizable pool of skilled labor, facilitating the establishment of manufacturing facilities for companies in various sectors. Potential restraints include: The government has introduced several initiatives under the banner of "Make in India", India boasts a sizable pool of skilled labor, facilitating the establishment of manufacturing facilities for companies in various sectors. Notable trends are: Growing Government Spending is Expected to Boost the Market’s Growth.

The Indian manufacturing sector, valued at $310.30 million in 2025, is poised for robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 9.11% from 2025 to 2033. This expansion is fueled by several key drivers. Government initiatives promoting "Make in India" are attracting significant foreign direct investment and stimulating domestic production. Rising disposable incomes and a burgeoning middle class are driving increased demand for consumer goods, particularly in the automotive, consumer electronics, and food and beverage sectors. Furthermore, India's strategic location and relatively low labor costs compared to other manufacturing hubs make it an increasingly attractive destination for global manufacturers. The sector is segmented by ownership (public, private, joint, cooperative), raw materials used (agro-based, mineral-based), and end-user industries (automotive, manufacturing, textile, consumer electronics, construction, food & beverage, others). Leading players such as Tata Motors, Mahindra & Mahindra, Ashok Leyland, Hindustan Unilever, and others contribute significantly to the market's dynamism. However, challenges remain, including infrastructure bottlenecks, skill gaps in the workforce, and navigating complex regulatory environments. Overcoming these hurdles will be crucial to fully realizing the sector's growth potential. Despite challenges, the forecast for the Indian manufacturing sector is optimistic. Continued growth in key end-user industries like automotive and consumer electronics, coupled with government support for infrastructure development and skill enhancement programs, will likely accelerate the market expansion. The diversification of the manufacturing base beyond traditional sectors, embracing technological advancements, and focusing on sustainable practices will play a critical role in the sector’s long-term success. The presence of established multinational corporations alongside a vibrant domestic industry ensures a competitive and dynamic marketplace, positioning India as a significant manufacturing powerhouse in the coming years. Recent developments include: January 2023: Sundram Fasteners, an auto component manufacturer, won the biggest EV contract in its 60-year history. The Chennai-based company was awarded a USD 250 million contract by a leading global automobile manufacturer to supply sub-assemblies for its electric vehicle (EV) platform. The company estimates an annual sales peak of USD 52 million in 2026 with a supply of 1.5 million drive unit sub-assemblies per annum.January 2023: Tata Motors (an Indian multinational automotive manufacturing company) announced plans to set up plants in India and Europe to produce battery cells for electric vehicles. The company dominates the country's EV market, with total sales of 50,000 electric cars to date. It outlined plans to launch 10 electric models by March 2026.. Key drivers for this market are: The government has introduced several initiatives under the banner of "Make in India", India boasts a sizable pool of skilled labor, facilitating the establishment of manufacturing facilities for companies in various sectors. Potential restraints include: The government has introduced several initiatives under the banner of "Make in India", India boasts a sizable pool of skilled labor, facilitating the establishment of manufacturing facilities for companies in various sectors. Notable trends are: Growing Government Spending is Expected to Boost the Market’s Growth.

The manufacturing industry in India has emerged as a fast-growing sector owing to the rapidly increasing population in the country. Investments in the sector have been on the rise and initiatives like ‘Make in India’ aim to make the South Asian country a global manufacturing hub. The annual production growth rate in the manufacturing industry was *** percent during fiscal year 2025. Foreign and domestic enterprisesThe gross value added by the manufacturing sector in India has grown steadily; however, it is still lower than the services sector. With the prospect of a huge consumer market, global giants such as Siemens, HTC, and Toshiba have already set up or are in the process of setting up manufacturing plants across the region. Apple has also been setting up nascent operations in India to diversify from China-centered production. On the other hand, the micro, small and medium enterprises sector is also crucial to transforming India from an agriculture-based economy to an industrialized one. MSME's contribution to Indian GDP has remained stable over the last few years. The futureWith technology reaching what previously were unimaginable heights in the last decade, industries need to keep up with the current trends and the technology. The focus is shifting towards machine learning to improve the efficiency and precision of the work.Smart manufacturing, a combination of internet of things and artificial intelligence, is expected to see growth in the coming decade.

The India Manufacturing Sector Market offers a diverse range of products, including automobiles, machinery, electronics, and pharmaceuticals. The automotive industry is one of the largest segments, driven by factors such as increasing urbanization, rising disposable income, and government initiatives to promote domestic manufacturing. The machinery segment is also experiencing growth, supported by the expanding manufacturing base and the need for automation. The electronics industry is witnessing significant demand due to the growing adoption of consumer electronics and the proliferation of the digital economy. The pharmaceutical industry is driven by factors such as increasing healthcare expenditure and the rise of chronic diseases. Recent developments include: January 2023: Sundram Fasteners, an auto component manufacturer, secured its largest-ever EV contract in its six-decade history. The Chennai-based company clinched a USD 250 million deal from a prominent global automobile manufacturer to supply sub-assemblies for its electric vehicle (EV) platform. Sundram Fasteners anticipates reaching an annual sales peak of USD 52 million by 2026, with a supply of 1.5 million drive unit sub-assemblies per annum., January 2023: Tata Motors, a multinational automotive manufacturing company based in India, disclosed plans to potentially establish plants in India and Europe for manufacturing battery cells dedicated to electric vehicles (EVs). The Chief Financial Officer of Tata Motors' auto unit revealed this information in an interview with Reuters. Tata Motors, which has sold a total of 50,000 electric cars thus far, dominates India's EV market and aims to introduce 10 electric models by March 2026.. Key drivers for this market are: Increasing demand for products in sectors like automotive, consumer electronics, and pharmaceuticals, both domestically and internationally, is fueling the expansion of manufacturing activities in India. Potential restraints include: Inadequate infrastructure, including poor transportation networks, inconsistent power supply, and inefficient logistics, which raise operational costs and hinder the smooth functioning of industries. Notable trends are: Growing government spending and the large and growing population, coupled with a rising middle class, are driving the market growth.

Discover the booming Indian manufacturing management market! Our analysis projects significant growth by 2029, driven by Industry 4.0 adoption, government initiatives, and rising demand for skilled professionals. Explore market trends, challenges, and opportunities in this comprehensive report.

Industrial Production in India increased 0.40 percent in October of 2025 over the same month in the previous year. This dataset provides - India Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The manufacturing sector in India employed over **** million people in the financial year 2024. This was a growth of over *** percent as compared to the previous financial year. Industries driving the sector's growth included basic metals, coke and refined petroleum, food products, and chemicals among others.

In 2024, India's manufacturing sector's GDP share was around ** percent. The share remained the same as compared to the last year and declined from ** percent in 2010. Value added is the net output of the manufacturing sector after adding all outputs and subtracting intermediate inputs. The manufacturing sector employs over ** million workers. Boosting manufacturing As global economies aim to reduce reliance on China or adopt a China-plus strategy, India has emerged as a potent alternative manufacturing hub. The Make in India initiative was launched to foster and strengthen India’s global manufacturing status by enhancing foreign direct investments, skill development, and updating manufacturing infrastructure. Under the Production Linked Incentive (PLI) Scheme, companies are incentivized to promote domestic production and enhance manufacturing competitiveness. Despite efforts, experts expressed doubts about the government’s ambition to raise the share of manufacturing to GDP to ** percent by 2025.
Hurdles for manufacturing As per the World Bank, India’s share in global trade has not kept pace with its rapidly growing economy. It is losing ground to countries like Bangladesh and Vietnam in key low-cost and low-skill manufacturing export sectors. Manufacturing productivity in India has remained low. and the availability of capital also remains an obstacle for the manufacturing sector. Inadequate investments in technology, infrastructure, and research and development (R&D) can also impact productivity growth. Other factors include regulatory compliance burdens, complex labor laws, red tape, and inefficient supply chains.

Explore India’s PCB industry outlook to 2034, with trends in high-density interconnect boards, flexible PCBs, and regional growth opportunities.

Manufacturing Production in India increased 1.80 percent in October of 2025 over the same month in the previous year. This dataset provides the latest reported value for - India Manufacturing Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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India Machine Tool Market Size 2025-2029

The India machine tool market size is forecast to increase by USD 3.08 billion at a CAGR of 11.6% between 2024 and 2029. The market is experiencing significant growth, driven by the increasing adoption of industrial automation and the integration of advanced technologies such as 3D printing. This automation wave is transforming various industries, leading to an escalating demand for precision machine tools.

Major Market Trends & Insights

Based on the Technology, the CNC machine tools segment led the market and was valued at USD 3 billion of the global revenue in 2022.
Based on the Type, the Metal cutting machines segment accounted for the largest market revenue share in 2022.

Market Size & Forecast

Market Opportunities: USD 180.21 Million
Future Opportunities: USD 3.08 Billion
CAGR (2024-2029): 11.6%

Furthermore, the adoption of 3D printing technology is revolutionizing the manufacturing sector, enabling the production of complex components with minimal wastage and reduced production time. However, the market faces challenges in the form of volatile raw material prices used in machine tool production. These fluctuations pose a significant risk to manufacturers, requiring them to maintain price competitiveness while managing their input costs. To capitalize on the market opportunities, companies must focus on innovation, efficiency, and cost management. Strategic partnerships, collaborations, and mergers and acquisitions could also be crucial in navigating the competitive landscape and staying ahead of market trends.

What will be the size of the India Machine Tool Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with various sectors adopting advanced technologies to enhance productivity and efficiency. Grinding machines and lapping operations have gained significant traction in the automotive industry, while milling machines and milling operations dominate the manufacturing sector. The integration of chip control, servo drives, safety systems, coolant systems, and process monitoring has led to feed rate optimization and tool wear monitoring, resulting in a 10% increase in productivity for several manufacturers. Moreover, the implementation of SCADA systems, PLC programming, and machine rebuilding has facilitated spindle speed control, human-machine interface, and waste management. CNC retrofitting and machine tool design have further boosted the market, with linear motors and technical training enabling machine rebuilding and spare parts supply. The metal cutting machines segment is the second largest segment of the type and was valued at USD 3.08 billion in 2022.
The industry is expected to grow at a rate of 12% annually, driven by the ongoing demand for precision engineering and automation in various industries. For instance, drilling machines have seen increased adoption in the construction sector, contributing to its growth.

How is this India Machine Tool Market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  CNC machine tools
  Conventional machine tools


Type

  Metal cutting machines
  Metal forming machines


Action Mechanism

  Semi-automatic
  Fully automatic


Application

  Automotive
  Aerospace and defense
  Heavy Engineering
  Electronics


Sales Channel

  Direct Sales
  Distributors
  Online Sales


Geography

  APAC

    India

By Technology Insights

The CNC machine tools segment is estimated to witness significant growth during the forecast period. The segment was valued at USD 3 billion in 2022. It continued to the largest segment at a CAGR of 9.92%.

In the dynamic Indian manufacturing landscape, industrial advancements have been a driving force for growth. CNC machining centers, a key component of industrial automation, have gained significant traction due to their ability to enhance productivity and reliability. These advanced metalworking machines, used in various applications such as lathes, mills, lasers, abrasives, punches, and presses, enable manufacturers to produce complex parts for tech industries. The integration of Computer Numerical Control (CNC) technology with other systems, like Automated Guided Vehicles (AGVs) and Quality Control Systems, optimizes processes and reduces defects. Additionally, the implementation of machining simulation, process capability analysis, and tolerance analysis further improves manufacturing efficiency.

The adoption of Digital Twin Technology and Predictive Maintenance facilitates proactive machine tool maintenance, ensuri

Key information about India Industrial Production Index Growth

• India Industrial production rose 0.4 % YoY in Oct 2025, following an increase of 4.6 % YoY in the previous month.
• India Industrial production index growth rate YoY data is updated monthly, available from Apr 2006 to Oct 2025, with an average rate of 4.0 %.
• The data reached an all-time high of 133.5 % in Apr 2021 and a record low of -57.3 % in Apr 2020.

CEIC calculates Industrial Production Index Growth from monthly Industrial Production Index. Ministry of Statistics and Programme Implementation provides Industrial Production Index with base 2011-2012=100. Industrial Production Index covers Mining, Manufacturing and Electricity sectors. Industrial Production Index Growth prior April 2013 is calculated from Industrial Production Index with base 2004-2005=100.

Discover the booming India Metal Fabrication Market! Explore its ₹30 billion (USD 30 Billion est. 2025) valuation, 6.38% CAGR, key drivers, trends, and top players. Get insights into market segments, including steel, aluminum, and various services. This comprehensive analysis projects market growth until 2033. Recent developments include: October 2023: JSP’s Angul unit, located in Odisha, was set to become India’s biggest single-location steel manufacturing plant. The capacity of the current Angul plant is estimated to be 5.6 mtpa per annum. However, the plan was to double it to 11 mtpa and 24 mtpa by 2023 and 2027, respectively. JSP’s steel plant, located in Raghurhat, was also expected to expand its capacity from 3.6 tpa per annum to 9 tpa by 2023. JSP finalized trial production at Angul in 2023 and commercial production by 2024. Jindal Steel and Power expects the Indian steel industry to grow in line with government infrastructure projects and domestic demand., July 2023: ArcelorMittal Nippon Steel India( AM/ NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - and Festo India, the world's leading manufacturer and supplier of automation technology and specialized education, announced signing an MoU at the Festo Corporate Center in Stuttgart, Germany. The cooperation will concentrate on the development of the New Age Makers Institute of Technology( NAMTECH), an ArcelorMittal Nippon Steel India education initiative aimed at delivering an integrated model of high-quality engineering and specialized education, with special emphasis on manufacturing and sustainability. NAMTECH started operating an interim campus in the Research Park at IIT Gandhinagar, Gujarat, in August 2023.. Key drivers for this market are: Growing Demand for Fabricated Metal Products Driving the Market, Technological Advancements Driving the Market. Potential restraints include: Growing Demand for Fabricated Metal Products Driving the Market, Technological Advancements Driving the Market. Notable trends are: Manufacturing Sector is Shaping the Market.

The India Lathe Machines Market is booming, with a 13.43% CAGR. Discover key trends, growth drivers, and leading companies shaping this dynamic sector. Explore market size projections, segmentation analysis, and investment opportunities in the thriving Indian manufacturing landscape. Recent developments include: October 2023: The Indian Oil Corporation announced an investment of over INR 2,600 crore (USD 0.3126 billion) to set up greenfield units and further expand its facilities across Northeast India in the coming years. Such investments by governments and private companies are expected to create vast demand for fasteners, nozzles, pins, and washers in the petrochemical industry, which is expected to fuel market growth., December 2022: The Tata Group announced a five-year plan to invest USD 90 billion in the semiconductor sector. It plans to enter advanced chip manufacturing and fabs in the coming years.. Key drivers for this market are: Technological Advancements in the Manufacturing Industry, Growing Smart Factories in India. Potential restraints include: Technological Advancements in the Manufacturing Industry, Growing Smart Factories in India. Notable trends are: Technological Advancements in the Manufacturing Industry are Expected to Drive the Market.

Monthly IIP data showing India’s Index of Industrial Production growth rates across key sectors such as Manufacturing, Electricity, and General Index from April 2013 to June 2025. The dataset includes interactive charts, sector-wise breakdowns, and historical trends.

The India Electric Vehicle Battery Manufacturing Market report segments the industry into Battery (Lithium-Ion, Lead-Acid, Nickel Metal Hydride Battery, Others), Battery Form (Prismatic, Pouch, Cylindrical), Vehicle (Passenger Cars, Commercial Vehicles, Others), and Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle).

The Indian industrial packaging drums market is poised for significant growth, driven by the burgeoning manufacturing sector and increasing demand across various industries. Between 2019 and 2024, the market likely experienced robust expansion, influenced by factors like rising industrial production, e-commerce growth fueling demand for safe and efficient product transportation, and a shift towards sustainable packaging solutions. While precise figures for the past period aren't available, a conservative estimate suggests a Compound Annual Growth Rate (CAGR) of 8-10% during this time, considering India's economic trajectory. Looking ahead to 2029, this positive momentum is projected to continue. The market is segmented by material type (steel, plastic, fiber), size, and end-use industry (chemicals, food & beverage, pharmaceuticals). The increasing adoption of plastic drums, driven by their lightweight nature and cost-effectiveness, coupled with growing demand from the food and beverage sector will likely boost market expansion. However, challenges such as fluctuating raw material prices and environmental regulations concerning plastic waste management represent potential restraints. Nevertheless, the overall outlook for the Indian industrial packaging drums market remains optimistic, with a projected market size exceeding ₹50 billion (approximately US$6 billion) by 2029. This growth will be further fueled by government initiatives promoting 'Make in India' and the expansion of manufacturing hubs across the country. Further driving market expansion are advancements in drum design and functionality, including improved strength, leak-proof capabilities and enhanced stacking solutions. The incorporation of intelligent packaging features, such as RFID tags for better tracking and management of goods, will also positively impact the market. Furthermore, increased focus on safety standards and regulations will necessitate higher-quality drums, prompting greater adoption of advanced manufacturing techniques. Companies involved in manufacturing, distribution and recycling of industrial drums will benefit greatly from this positive trend, particularly those actively adopting eco-friendly production and recycling strategies. This growth will be uneven across regions, with states possessing robust industrial clusters experiencing more accelerated growth.

India Steel Market size was valued at USD 118.2 Billion in 2024 and is projected to reach USD 230.4 Billion by 2032, growing at a CAGR of 8.7% from 2026 to 2032.

Key Market Drivers Rapid Infrastructure Development and Urbanization: Large-scale infrastructure developments in India, as well as expanding urbanization, are fueling steel demand in construction and real estate. According to the Ministry of Steel, Government of India, the country's completed steel consumption reached 119.17 million tonnes in FY 2022-23, up 13.31% year on year.

Growth in Automotive and Manufacturing Sectors: The increasing automotive and manufacturing industries are driving up steel demand. According to the Society of Indian Automobile Manufacturers (SIAM), 4.37 million passenger automobiles were sold in India in FY 2022-23, representing a 26.7% increase over the previous year.

The India digital transformation market is experiencing robust growth, projected to reach a significant market size, driven by factors such as increasing government initiatives promoting digitalization, rising smartphone penetration, expanding internet connectivity, and the burgeoning adoption of cloud computing and other digital technologies across various sectors. The market's Compound Annual Growth Rate (CAGR) of 20.63% from 2019 to 2024 indicates a strong upward trajectory, fueled by the proactive embrace of digital solutions by businesses aiming to enhance efficiency, optimize operations, and improve customer experiences. Key segments like Extended Reality (XR), Industrial Robotics, and cloud computing are witnessing particularly high growth, reflecting the transformative potential of these technologies across sectors such as manufacturing, BFSI (Banking, Financial Services, and Insurance), and healthcare. While challenges such as cybersecurity threats and the digital divide need addressing, the overall market outlook remains positive, driven by sustained investment in digital infrastructure and the increasing digital literacy of the Indian population. The market is segmented by technology (XR, IoT, Industrial Robotics, Blockchain, Additive Manufacturing, Cybersecurity, Cloud & Edge Computing, and others including digital twins, mobility and connectivity) and end-user industry (Manufacturing, Oil & Gas, Retail & E-commerce, Transportation & Logistics, Healthcare, BFSI, Telecom & IT, Government & Public Sector, and others). Major players like Accenture, Google, Siemens, IBM, Microsoft, and others are actively shaping the market landscape through innovative solutions and strategic partnerships. The manufacturing sector, with its significant technological adoption needs, presents a significant growth opportunity. The government's "Digital India" initiative and increasing private sector investment contribute significantly to the growth momentum. Future growth will be driven by the expansion of 5G networks, the increasing adoption of AI and machine learning, and the continued focus on improving digital infrastructure. This comprehensive report provides an in-depth analysis of the rapidly evolving India digital transformation market, offering invaluable insights for businesses and investors alike. With a study period spanning 2019-2033, a base year of 2025, and a forecast period of 2025-2033, this report meticulously examines the market's historical performance (2019-2024) and projects its future trajectory. The report leverages robust data and detailed analysis to understand the market's current dynamics and pinpoint future growth opportunities, focusing on key technologies and industry verticals. Recent developments include: May 2024: The Ministry of Electronics and Information Technology (MeitY) inaugurated the first National Additive Manufacturing Symposium (NAMS) 2024, marking a significant step in India’s push towards advanced manufacturing technologies. MeitY Secretary S Krishnan inaugurated the event, which featured the release of an Additive Manufacturing Landscape Report and unveiled an indigenously developed additive manufacturing machine. The symposium aimed to provide an overview of India’s Additive Manufacturing (AM) ecosystem., February 2024: The Indian Institute of Technology Madras (IIT-M) launched an Additive Manufacturing lab equipped with over 25 FabMachines 3D Printers from Fabheads Automation. This move positioned the IIT Madras lab as a central hub for additive manufacturing innovation and education. By incorporating FabMachines technology, the institute aimed to provide students with practical exposure and deeper insights into advanced manufacturing techniques.. Key drivers for this market are: Increase in the adoption of big data analytics and other technologies in India, The rapid proliferation of mobile devices and apps. Potential restraints include: Increase in the adoption of big data analytics and other technologies in India, The rapid proliferation of mobile devices and apps. Notable trends are: Industrial Robotics is Expected to Occupy the Largest Market Share.