Precision manufacturing boom

The Indian precision tool market is set to expand at a compound annual growth rate of 13.6%, reaching US$102 bn.

India’s manufacturing sector is undergoing a transformation that goes far beyond automation. What was once a cost-driven, labour-intensive ecosystem is rapidly evolving into a precision-led, technology-enabled, and globally competitive manufacturing powerhouse. At the heart of this shift are adaptive manufacturing technologies, smart machines, and a strategic rethink of how precision, productivity, and sustainability intersect.
Indian precision manufacturing is rapidly evolving, bridging traditional metal forming (presses, bending, shearing) with advanced laser technologies (cutting, welding, additive manufacturing) for enhanced efficiency, complexity, and sustainability, driven by rising high-tech demand, automation, and government support, though imports still dominate certain machinery, research in India focuses on leveraging lasers for green machining, cost reduction in hard-to-machine materials (like superalloys), and creating complex parts with less waste, making it a crucial sector for industries from aerospace to biomedical.

According to Technova, as industrial automation and infrastructure development are advancing rapidly worldwide, demand for precision tools is rising exponentially. According to the latest data, the Indian precision tool market is set to expand at a compound annual growth rate of 13.6% by 2027, reaching US$102 bn. Additionally, the Indian Precision Tool Market was valued at US$1.4 bn in 2022. According to experts, this industry segment is expected to expand at a 9.4% CAGR between 2023 and 2028, reaching US$2.5 bn.

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