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China's woes offer India a chance in $100 bn tools mkt
Mint Mumbai
|April 16, 2025
India's tiny share of the global tools trade can be scaled up substantially with dominant market leader China struggling with tariffs and increasing costs, according to a report from central government think tank Niti Aayog released on Tuesday.
India can build a $25-billion export-driven tools industry by 2035 while overcoming structural barriers and cost disadvantages with the right mix of bold policy reforms, global-scale manufacturing clusters, and public-private collaboration, the think tank said in the report. The tools industry comprises essential hand-held equipment used across industries for tasks like drilling, cutting, and fastening, supporting both industrial and everyday applications.
This story is from the April 16, 2025 edition of Mint Mumbai.
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