Representation file image. | Photo credit: V. Raju
India can aim at exports of $ 25 billion in the next 10 years and generate 35 LAKH of jobs with a market share of 10% in electric tools and a market share of 25% in manual tools, cord about the Niti Aayog report on “unlocking of $ 25 billion of exports, reliable tools.
The report indicated that there is a transformative potential of the manual and electrical tool industry for the country’s economic growth. The report also describes a strategic route for the sector to improve its global competitiveness and capture a greater proportion of the international market.
The global commercial market and manual tools is currently valued at approximately $ 100 billion and is projected to reach around $ 190 billion by 2035. “Within this market, manual tools represent $ 34 billion and it is expected that $ 65 tools accessions, which represent $ 63 billion and anticipate $ 134 billion, with electric tools that include the majority. (1.8% of $ 134, and $ 47. in electric tools (0.7% market share), “said Niti Aayog.
The report says that India has the potential to capture a greater proportion of the global market, pointing to $ 25 billion in exports during the next decade, which could create approximately 35 LAKH of jobs by achieving around 10% market share in electric tools and 25% in manual tools. “By fostering innovation, empowering our mipyme, strengthening the industrial ecosystem of India, we can solidify the position of the nation a reliable and high quality global manufacturing center. The possible rewards for the Indian economy and its people”, “”, “”
The report also analyzes the challenges that India can face, including a cost disadvantage of 14-17% compared to China, driven by higher structural costs and a smaller operational scale. “This voice at a disadvantage of the high costs of raw materials, such as steel, plastic and engines, as well as the lower labor productivity due to the highest extras’ salary and extreme time restrictions in time of time of time. Market,” the report said.
Published – April 16, 2025 3:09 am ISST
