India targets $25B in tool exports by 2035: NITI Aayog

17 Apr 2025 CW Team

NITI Aayog has released a report titled Unlocking $25+ Billion Export Potential – India’s Hand & Power Tools Sector, highlighting a roadmap to scale India’s tool exports and strengthen its manufacturing ecosystem.

The global tools market is set to grow from $100 billion to $190 billion by 2035. India currently holds a small share—$600 million in hand tools (1.8 per cent) and $470 million in power tools (0.7 per cent)—while China dominates with nearly 50% market share.

The report estimates India can reach $25 billion in exports over the next 10 years by targeting 25 per cent of the hand tools market and 10% of the power tools market, potentially generating 3.5 million jobs. However, India faces a 14-17 per cent cost disadvantage versus China due to higher raw material costs, lower labour productivity, and high logistics expenses.

Key recommendations:

World-class tool clusters: 3–4 mega clusters covering ~4,000 acres under the PPP model with integrated infrastructure and housing.

Structural reforms: ease QCOs, rationalise import duties, and streamline EPCG and labour laws.

Bridge cost support: Rs 80 billion may be needed if reforms delay; seen as an investment with 2–3x tax returns.

The tools industry is a core enabler of manufacturing and crucial to India’s ‘Make in India’ goals. Strengthening this sector could help position India as a global manufacturing hub by 2047 under the Viksit Bharat vision.

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