📅 Launched By:
- Shri Suman Bery (Vice Chairman, NITI Aayog)
- In presence of Dr. V.K. Saraswat, Dr. Arvind Virmani, and Shri BVR Subrahmanyam (CEO, NITI Aayog)
🌍 Global Trade Market Insights:
- Current Market Size: $100 Billion
- Projected Growth (by 2035): $190 Billion
- Hand Tools: From $34B → $60B
- Power Tools (incl. electrical): From $63B → $134B
🌏 Global Export Share:
| Country | Hand Tools | Power Tools |
|---|---|---|
| China | $13B (50%) | $22B (40%) |
| India | $600M (1.8%) | $470M (0.7%) |
🇮🇳 India’s Target:
- $25 Billion Export in next 10 years
- Can create 35 lakh jobs
-
Requires:
- 10% share in power tools
- 25% share in hand tools
🏭 Challenges Identified:
-
Cost Disadvantage (14–17%) vs China due to:
- High raw material cost (steel, plastic, motors)
- Low labor productivity (due to overtime wages/restrictions)
- High interest & logistics cost (inland transport to ports)
✅ Key Recommendations:
- Foster innovation
- Empower MSMEs
- Strengthen India’s industrial ecosystem
- Interventions across R&D, logistics, and infrastructure
📌 Exam Notes Snapshot:
| Aspect | Detail |
|---|---|
| Report Title | Unlocking $25+ Billion Export Potential |
| Global Market Value (2035) | $190 Billion |
| India’s Export Goal | $25 Billion in 10 years |
| Job Creation Potential | 35 Lakh Jobs |
| Major Competitor | China (50% hand tools, 40% power tools) |
| India’s Current Share | 1.8% (hand), 0.7% (power) |