India’s $25 Billion Tool Boom: Can the Nation Become a Global Powerhouse by 2035?

India is looking at a $25+ billion export target in the hand and power tools sector by 2035, states a fresh NITI Aayog report. While the global market will grow nearly twice to $190 billion, India wants to capture 25% of hand tool and 10% of power tool exports—twice today's humble 1.8% and 0.7% leve...

India is looking at a $25+ billion export target in the hand and power tools sector by 2035, states a fresh NITI Aayog report. While the global market will grow nearly twice to $190 billion, India wants to capture 25% of hand tool and 10% of power tool exports—twice today's humble 1.8% and 0.7% levels. This would create 3.5 million jobs and make India a big supplier to industries ranging from construction to electronics. The roadmap suggests world-class industrial clusters, cost reforms, and targeted incentives to bridge India's 14–17% cost gap with China, the market leader of the day. A few of the reforms include infrastructure upgradation, regulatory freedom, and lowered input duties. If done, India's toolmakers, famous for wrenches, pliers, and drills, could become global heavyweights. Sources: Economic Times, DD News, India Sea Trade News