India Machinery Industry is the core around which all the industrial manufacturing takes place in the country. The machinery industry in India has amply demonstrated its potential in meeting the enormous demand of good both in the domestic as well as the international market. The machinery industry in India forms the backbone of the manufacturing sector by supplying all the necessary equipments and machinery required for production.
Machinery of various types is required for production. Depending on the field in which they are used, machinery can be large scale, medium scale or small scaled. India is one of the leading exporters of machines required for the steel industry, mining equipments for the mining industry, and equipments for the fertilizer industry, cement industry, petrochemical manufacturing industry and heavy engineering equipments.
Agriculture machinery industry
The agriculture machinery industry in India has helped immensely in increasing the productivity of land and labor. Some of the machinery used in the agriculture industry consists of soil working equipment, tractors, power tillers and engines, processing machinery, crop protection machinery, irrigation & drainage equipment machinery, milling equipment etc. There are government schemes that provide loans to farmers to buy agriculture machinery to increase their yield. The tractor industry in India is one of the major components of the agriculture machinery industry. More than 10 companies manufacture tractor vital agriculture machinery in India.
Textile machinery industry
The textile machinery industry in India is the second largest in the world. Manufacturers are increasingly making use of sophisticated textile machinery to produce the best goods and meet the increasing demand of the global market. Used textile machinery also has a pretty good market share. In fact some studies have suggested that the share for used textile machinery is about 20% of the total market for textile machinery. The huge demands in Indian textile goods abroad have ensured that the use of textile machinery has increased considerably.
Construction machinery industry
The construction sector is another sector that makes use of machinery on a very large scale to meet their industry demands. The government is undertaking several developmental activities and as a result embarking on huge construction projects. More than $35 billion is earmarked for road and highway construction projects of which 20% is for construction machinery. The real estate and housing sector also demands huge investments for construction machinery to meet their targets. It is anticipated that through 2020 about $10billion of construction machinery will be required in the country.
Major producers in India Machinery Industry include JCB India, Ashok Leyland, Voltas, Metso Minerals, Telco Construction Equipment, Bharat Earthmovers, Atlas Copco (India), B G Shirke Construction Equipment, Terex Vectra Equipment Salgaocar Engineers, Punjab Tractors, Volvo Construction Equipment India, Larsen & Toubro, Ingersoll Rand India, Caterpillar India, Escorts Construction Equipment etc
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