New manufacturing policy will help the development of machine tool industry
India is the world's one of the fastest growing economy, is also one of the important industrial countries around the world. As the Indian automotive, defense, aerospace, railway and the rapid development of durable consumer goods industry, the demand for metalworking machine tools is growing rapidly. Machine tool industry in improving international competitiveness in India and to promote the development of manufacturing industry has been playing a vital role. In 2010, spending $1.74 billion of India's metalworking machine tools, the world in the seventh; Imports of $1.25 billion, the highest in the world's fifth, imports accounted for the proportion of consumption is as high as 72%, showing industry import dependence degree is higher. To improve the competitive power of the Indian manufacturing, India's government approved a draft policy that the plan will be manufacturing in India as a share of GDP from its current 15% ~ 16% up to 25% in 2025, and will create 100 million jobs for the industry. The draft proposal to establish a national manufacturing base for investment, for large investment projects, equipped with world-class infrastructure.
Indian prime minister Manmohan Singh (Manmohan Singh) in a government statement pointed out that the new measures will reduce the financial burden on industry accordingly. Council for the promotion of new manufacturing policy emphasizes to set up a manufacturing, in order to ensure the coordination between the central and state governments. The policy also encourage Indian companies through government awards and subsidies to develop indigenous technology. India famous metalworking magazine - editor of modern machine tools (MMT) Manas R Bastia pointed out: "according to the experience, in the global economic recovery, need the contribution of indigenous technology to achieve leapfrog development, especially the metal processing industry in India. This will promote the Indian industry in innovation, scale, technology, human resources and services to international level. In this background, public-private partnership business operating mode is of great significance."