Shangliao Sun
Research expert covering India
Machinery industry in India - statistics & facts
The machinery industry is a branch of industry that deals with the production and maintenance of machines. It provides a means of production for entities in the manufacturing segment and construction industry including public utility sectors. It also provides supporting equipment for all sectors of the economy, including equipment for heating, ventilation, and air conditioning. A few of the prominent subsectors of the machinery industry in India include electrical equipment, earthmoving and mining machinery, and machine tools. Most of these subsectors allow 100 percent foreign direct investment (FDI).
History of machinery industry in India
Since India’s independence in 1947, along with the government’s economic strategies in the form of the five-year plans, the importance of this industry has considerably grown. While machinery manufacturing was one of the newest branches of India’s modern industry, it started out as one of the smallest. The first domestic machinery company with national importance was established by the Indian state in 1953, the Hindustan Machine Tools Limited. After several years of growth, it became one of the largest industrial sectors in India. Prior to that, India mainly relied on foreign imports or local manufacturers established by foreign companies.Electrical equipment industry in India
The electrical equipment industry is the biggest subsegment within the machinery industry. It provides equipment used for power generation, power transmission, and power distribution. India’s domestic electric machinery industry was established around the 1960s. The expansion of the power sector has been important for raising of generation capacity and demands for electrical machinery. The industry and government have also been gearing towards transformation of the energy sector with a focus on renewables. This would imply providing equipment and machinery particularly for the solar and wind energy sector.
