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Capital Goods
2nd
Highest producer of special purpose and heavy electrical machinery in India
3rd
Highest contributing state for Heavy Engineering in India
52%
of India’s total share in machine tool production
1st
Integrated machine Tool Park (TMTP) in India based in Tumakuru, Karnataka
Sector Incentives and Policy
Industrial policy incentives
| Particulars | Incentives |
|---|---|
| Investment promotion subsidy | Investment promotion subsidy Up to 2.25% of annual turnover for 6-10 years Up to 40-60% Value of Fixed Assets |
| Land Conversion Fee | 100% reimbursement |
| Stamp Duty | 100% reimbursement |
| Concessional Registration Charges | 0.1% |
| Effluent Treatment Plants | 50% subsidy up to Rs. 250 L |
| Anchor Industries1 | INR 7-10 Cr subsidy |
- Subsidies are applicable only for the first industry in sub-administrative zones; to encourage investments in taluks where there are no industries with investments above INR 100 Cr and direct employment of 75 persons
New initiatives & opportunities
North cluster
India’s first private Aerospace SEZ with ~250 Acres area situated in Belagavi for A&D manufacturing and assembly
Central cluster
Aerospace research and innovation Centre collocated with IISc at Chitradurga. Flying training school at Davangere
South cluster
Hi-tech Aerospace and Defence park with ~1000 Acre area situated in Devanahalli, Bangalore for access to vast A&D ecosystem in Bangalore
MRO
World class Maintenance, Repair and Operations (MRO) facility planned in Bangalore, Mysuru to leverage recently announced tax rationalization
Initiatives and Growth Drivers
Tumkuru Machine Tool Park
India's first machine tool park, spread over 530 acres provides a great ecosystem and opportunity for investment in machine tools manufacturing.
Growth Initiatives
Karnataka’s initiatives focusing on infrastructure development and skill enhancement further bolster the growth and competitiveness of the capital goods ecosystem in Karnataka.
Centres for Excellence
Manufacturing 4.0 Centres for Excellence to be set up across the state.
Exceeding Exports
There is a potential for closing import-export gap - The Capital Goods imports to India is approximately 3X the exports
Infrastructure Enhancement
India has to enhance its infrastructure to reach its 2025 economic growth target of US$ 5 trillion, requiring significant growth in the capital goods sector.
Sector Champions
Mr. V Anbu
Secretary, Director General & CEO
Indian Machine Tool Manufacturer’s Association (IMTMA)
Indian Machine Tool Manufacturers’ Association (IMTMA) is the apex industry body representing the machine tool industry in India. The Association comprises a membership of 467 companies from both, public and private sectors – manufacturing a wide range of metal-cutting and metal-forming machines, accessories, cutting tools and other ancillary equipment. Established in 1946 IMTMA provides opportunities for its members to enhance their efficiency and adopt cost-effective processes.
Sanjay Koul
Managing Director
Timken India
Timken India Limited, a Timken Company subsidiary, started manufacturing bearings in India nearly three decades ago and today has state-of-the-art manufacturing plants in Jamshedpur, Chennai and Bharuch to serve local bearing market needs and beyond. Employing the highly collaborative technical selling model for which Timken is known, the India team works directly with large OEM customers and with end users through a network of authorized distributors to make design and application recommendations to optimize performance and reliability. Timken Technology Centre in Bangalore, one of four such centres in the world, provides customers access to engineering expertise and the latest technological advancements. We also offer a breadth of bearing repair and related mechanical power transmission services to our customers.
Sector Contact
Email: [email protected]
Phone: 9611644486
