Global Cutting Tool Market Projected To Reach US$30 Billion By 2030

New Delhi [India], September 19: Industry leaders and policymakers underscored the pivotal role of India’s tools and equipment sector in powering manufacturing expansion, emphasizing the urgent need for MSMEs to adopt Industry 4.0, prioritize occupational safety, and build localized, skilled supply chains. Experts highlighted that scaling the tools and equipment industry through mass production, lean manufacturing, and advanced technologies will be critical in driving a globally competitive manufacturing ecosystem and unlocking immense export potential— core insights discussed on the sidelines of the Tools & Equipment Expo 2026 (TAEE) organised by Informa Markets in India.

The three-day Tools & Equipment Expo 2026 opened today, running from 17–19th September 2026 at Bharat Mandapam, New Delhi, bringing together more than 300 exhibitors, over 2,000 products on display, 150+ new product launches and 8000+ industry professionals with participation from leading domestic and international brands.

Speaking at the event, Mr. Yadu Kumar Yadav, Deputy Director, NPC-DPIIT, Ministry of Commerce and Industry, Government of India, said “India’s next phase of manufacturing growth will depend on enabling MSMEs to move from lean manufacturing towards Industry 4.0 and IoT-enabled systems. Over the past decade, efforts have focused on integrating MSMEs’ products, processes and systems through lean manufacturing, and the focus is now shifting towards the next level of digital integration. Under the Ministry of MSME’s RAMP scheme, more than 750 units are currently being integrated into an Industry 4.0 ecosystem in Gujarat, with similar ecosystems envisaged across the country. The recently launched BRICS Center for Industrial Competencies is also creating an ecosystem for manufacturers and industry associations to connect, facilitate B2B matchmaking and promote innovation. Platforms such as TAEE can support this transition by bringing innovators, MSMEs and technology providers together to exchange knowledge and explore collaborations.”

Mr. PG Subramanian, Executive Secretary, Indian Cutting Tool Manufacturers’ Association, said, “The Indian cutting tool industry is going through a transformative phase, driven by the growing manufacturing market in the country. The global cutting tool market is currently around US$23 billion and is projected to reach nearly US$30 billion by 2030, while India currently accounts for only around 15% of this market, according to industry estimates. This leaves significant headroom for Indian manufacturers to expand both domestically and in export markets. At the same time, MSMEs need greater awareness and easier access to the nearly 40 government schemes available for the sector, including support for start-ups. Simplifying compliance is equally important, as businesses today have to navigate a large number of central and state regulations. The industry is also facing raw-material challenges and the lack of domestic recycling and reprocessing facilities, making it important to strengthen local capabilities and build a more resilient cutting-tool supply chain.”

Mr. Mukesh Mohan Gupta, President, Chamber of Indian Micro Small and Medium Enterprises, said “Tools & Equipment Expo 2026 is an important platform for MSMEs to discover new technologies and accelerate technological upgradation. Government support through exhibition assistance and financing schemes, including collateral-free credit of up to ₹100 crore for eligible MSMEs, can further enable enterprises to adopt modern plant and machinery, expand capacity and improve competitiveness. With more than 9.5 crore MSMEs contributing over 30% to India’s GDP and providing employment to more than 42 crore people, strengthening MSME-led manufacturing can play a significant role in technological advancement and employment generation.”

Mr. Vinkesh Gulati, Chairperson, Automotive Skills Development Council, said “Tools and equipment are the backbone of every manufacturing industry, supporting the productivity and output of factories across sectors, including automotive. As India moves from a consumption-led economy towards a manufacturing-led growth story, technology and talent will be equally critical to building a competitive ecosystem. India has an opportunity to localise technology, machines and components, but unless we also localise capabilities through a skilled workforce, our supply chains cannot become truly self-reliant. Strengthening skilling and talent development alongside technology adoption will therefore be essential to making India’s manufacturing ecosystem globally competitive.”

Mr. S.P. Rana, Director, Directorate of Industrial Safety & Health (DISH), Government of NCT of Delhi, said “Tools and equipment have a direct connection with occupational safety, as almost every industrial activity involves machines, tools or equipment. Proper design, maintenance and safe use can protect workers while improving productivity, while unsafe equipment or work practices can lead to accidents. With the Occupational Safety, Health and Working Conditions Code, 2020, greater emphasis is being placed on accident prevention, hazard identification, risk assessment and safe workplaces. Safety must be built into equipment design rather than added later, enabling the industry to move from reacting to accidents towards identifying and controlling risks before they occur. This requires collaboration among government, employers, manufacturers, safety professionals and workers.”

Mr. Didaarjit Singh Lotey, Vice President, Chamber of Industrial & Commercial Undertakings, said ‘For India to emerge as a globally competitive manufacturing hub, we need to strengthen our focus on exports, mass production, lean manufacturing and cluster-based development. China’s manufacturing experience demonstrates how scale, efficient production systems and a strong ecosystem can build global competitiveness. Indian industries must work towards improving productivity and competitiveness to serve global markets, supported by continued government efforts, stronger infrastructure and a shift in mindset towards large-scale, cluster-based and lean manufacturing. With these capabilities, India has the potential to emerge as a global manufacturing hub across product categories.’

Mr. Yogesh Mudras, Managing Director, Informa Markets in India, said “It is encouraging to see Tools & Equipment Expo 2026 get underway with strong participation from exhibitors, visitors and industry stakeholders at a time when India’s tools and equipment sector is entering an important phase of growth. With India’s hand and power tools exports currently at around US$1 billion, and the potential to scale this to more than US$25 billion by 2035, the opportunity to strengthen India’s manufacturing and export capabilities is significant.”

Mr. Shitu Sahni, Managing Director, Raw Power, said “India’s power tools industry is undergoing a significant transformation, with the country emerging as a major consumption market and an important opportunity for building a stronger domestic ecosystem. India’s power-tool consumption, currently estimated at around US$4 billion, has the potential to grow to nearly US$15 billion, creating substantial opportunities across manufacturing, technology and exports. Developing the ecosystem is particularly important as power tools involve around 28 critical components and require capabilities across the wider supply chain. The transition towards EVs is another major growth driver, with electric and cordless technologies making power tools an increasingly important part of the future manufacturing ecosystem. Platforms such as Tools & Equipment Expo can help bring MSMEs, startups, technology providers and industry together to accelerate this transition and build a more competitive Indian power-tools industry.”

The event is supported by leading industry associations including the Chamber of Industrial and Commercial Undertakings, Ludhiana Hand Tools Association, Indian Cutting Tool Manufacturers Association, Jalandhar Traders and Manufacturers Association, Association of Welding Products Manufacturers, AGIA, APSCA and Rajkot Engineers Association.

International participation from Germany, China, Taiwan and Hong Kong highlights the growing global engagement with India’s tools and equipment market. The expo showcased cutting-edge solutions across hand tools, power tools, smart automation, and cutting and welding technologies.