Representative file image. , Photo Credit: V. Raju
India can target exports of $ 25 billion in the next 10 years and generates 35 million jobs with 10% market share in power equipment and 25% market share in hand equipment, “According to the report of NT Aayog on the $ 25+ Billion Exports: India’s Hand and Power Tools Sector” released here on Tuesday, which was released here on Tuesday.
The report states that hand and electricity equipment for the country’s economic development is the transformational capacity of the industry. This report also underlines a strategic route to the region to increase its global competition and capture a large part of the international market.
The global trade market for power and hand tools currently costs around $ 100 billion and is expected to reach $ 190 billion by 2035. “Within this market, hand equipment for $ 34 billion is in account and expected to expand up to $ 60 billion by 2035, while tools, including accessories, represent $ 134 billion, which are vivid to $ 134 billion. $ 13 billion with $ 13 billion with $ 13 billion and 40% power tools with a hand tools market with hand tools, where the hand tools with a hand tools are a small appliance, which is a small presence of India, which is a small presence of India, which is a small appliance of India, which is a small apparatus of India, in which India is a small appliance, which has a small presence of India, in which India is a small appliance, which is a small apparatus of India, in which India is a small apparatus, which is a small presence of India, in which India is a small device, India has a shorter appliances, with $ 22 billion. In $ 600 million (1.8% market share) and power tools (0.7% market share) exported $ 470 million, NITI Aayog said.
The report states that India has the ability to capture a large part of the global market, which targets $ 25 billion in exports in the next decade, which can generate about 35 million jobs by getting 10% market share in power equipment and 25% in hand tools. The report stated, “Through promoting innovation, strengthening our MSMEs, strengthening India’s industrial ecosystem, we can strengthen the country’s situation as a reliable, high -quality global manufacturing center. Possible awards for the Indian economy and its people are immense,” the report states.
The report also analyzes challenges that India may face, with a loss of 14–17% cost compared to China, high structural costs and small operational scale. “This damage is grown from high raw material costs, such as steel, plastic and motors, as well as low labor productivity due to high overtime wages and restrictions at overtime hours. In addition, high interest rates and logistics costs are said to proceed in the global market for transporting goods from inland states from inland states.
Published – 16 April, 2025 03:09 AM IST
