Reports and Indices
‘Unlocking $25+ Billion Export Potential – India’s Hand & Power Tools Sector’-Report
▪ NITI Aayog launched a report titled ‘Unlocking $25+ Billion Export Potential – India’s Hand & Power Tools Sector’, aiming to explore the potential of India’s hand and power tools industry in the global trade landscape.
▪ The report identifies the transformative role that this sector could play in boosting India’s economic growth, creating jobs, and enhancing its position as a global manufacturing hub.
▪ With the global market for these tools expected to grow significantly by 2035, India’s focus on
strengthening this sector could lead to $25 billion in exports over the next decade and the creation of 35 lakh jobs.
▪ India’s Current Position: India’s tools industry is a small player globally, with USD 600 million in hand tools exports (1.8% global market share) and USD 425 million in power tools exports (0.7% global market share).
▪ India has the potential to increase its exports to $25 billion over the next decade, which represents a 10% market share in power tools and 25% market share in hand tools
