Capital Goods
Karnataka has a strong ecosystem for capital goods manufacturing with major Global and Indian companies having a manufacturing presence here
2nd
Highest producer of special purpose and heavy electrical machinery in India
3rd
Highest contributing state for Heavy Engineering in India
50%
of India's total share in machine tool production
1st
Integrated machine Tool park (TMTP) in India based in Tumakuru
2nd
Highest producer of special purpose and heavy electrical machinery in India
3rd
Highest contributing state for Heavy Engineering in India
50%
of India's total share in machine tool production
1st
Integrated machine Tool park (TMTP) in India based in Tumakuru
Table of contents
Incentives
Investment promotion subsidy of upto 10% of turnover for 5 years for Micro & Small Industries (Max INR 1 Cr.) and upto 2.5% of turnover for Medium enterprises for upto 6 years (Max 40% of VFA)
Upto 100% exemption on stamp duty
Low concessional registration charges of 0.1%
Upto 100% exemption on electricity duty for 8 years
Reimbursement of cost of power paid at INR 1/unit for 3 years
50% subsidy on cost of ETP (Max INR 50L)
5% interest subsidy on technology upgradation loan for upto 6 years
2.25% of turnover as investment promotion subsidy for 5-10 years up to 45% of fixed asset value
Upto 100% exemption on stamp duty
Low concessional registration charges of 0.1%
Upto 100% reimbursement of Land conversion fee
50% subsidy on cost of CETP/ETP/STPs (Max INR 5Cr.)
Investment subsidy for anchor industries of upto $1.3 Mn
New initiatives & opportunities
Tumakuru 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
High Growth Segments
Machine tools witnessing a growth of 20% and Earth Moving & mining machinery witnessing a growth of 12% are some of the attractive subsectors for investment
High Tech Manufacturing
Manufacturing 4.0 Centres for Excellence to be set up across the state
Rise in exports
Karnataka is an ideal location for exports to Middle East, South Asian and African markets
Sector Champion
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.
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.
Growth drivers
Huge Infrastructure spending
target to construct roads worth $200 bn in next 2 years $1 trillion+ infra spending over next 5 years
Strong Indigenization push from Govt.
Tenders < Rs 200 Cr no longer open for global firms & increased push for domestic manufacturing under Aatmanirbhar Bharat Abhiyan
Global Engineering SEZ at Mangaluru
Integrated industrial development consisting of multi-product SEZ. Robust infrastructure available with plug & play facility and total land area of 1620 acres.
Global Precision Engineering SEZ in Belagavi
India’s first precision engineering SEZ spread over 300 acres.SEZ was setup to focus on aerospace components and sub-systems by building a precision engineering and manufacturing end-to-end ecosystem
Sector Contact
Download Brochure
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Machine Tools |
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