March 07, 2026 04:21 pm (IST)
Follow us:
No license required for setting up of Machine Tools manufacturing unit
New Delhi, Apr 26 (IBNS) Minister of State in the Ministry Heavy Industries and Public Enterprises, G.M. Siddeshwara in a written reply in Lok Sabha on Tuesday said that no license is required for setting up of Machine Tools manufacturing unit in India.
According to the ministry, presently 100% foreign direct Investment is allowed through automatic route in Machine Tools Industry.
Further, a scheme for enhancement of competitiveness in the Indian capital goods industry has been launched by the Department of Heavy Industry.
Under the said scheme, there is a component of setting up Integrated Industrial Infrastructural facilities (IIFC) for Machine Tools Industry and the proposal of Karnataka Government for setting up the Machine Tools Park near Tumkur has been approved by the Government. This is expected to augment the capacity of machine tool industry in India.
In addition to IIFC, there is a component of setting up Centre of Excellence for technology development (CoE) under which setting up of a COE at IIT Madras with six industry partners for development of 11 Machine Tool technologies has also been approved by the Government.
Development of advance technology is likely to result in import substitution and increased capacity in domestic manufacturing of Machine Tools, said the minister.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Layoff wave at Flipkart: Up to 300 employees shown the door
Sat, Mar 07 2026
Your cooking gas gets costlier: LPG prices rise across India amid Middle East crisis
Sat, Mar 07 2026
Mahindra's BE 6 Batman edition returns, check out the price
Fri, Mar 06 2026
Premium Finnish chocolates could soon hit Indian stores via Reliance. All details inside
Fri, Mar 06 2026
Major push: Tata Power collaborates with Salesforce to accelerate India’s clean energy transition
Fri, Mar 06 2026
Defence stock on fire! Mazagon Dock Shipbuilders Limited jumps 8% as massive Rs 99,000 crore deal nears approval
Fri, Mar 06 2026