Will HMT watches make a comeback? Union Minister HD Kumaraswamy hints a revival

Union Minister HD Kumaraswamy has voiced strong advocacy for the revival of Hindustan Machine Tools (HMT), a historic Public Sector Undertaking (PSU), aligning with Prime Minister Narendra Modi's Atmanirbhar Bharat initiative. Kumaraswamy emphasized that rejuvenating HMT could significantly bolster India's manufacturing sector, marking a return to its pivotal role in the nation's industrial landscape.

HMT, renowned for its iconic watches and machinery, once symbolized India's technological prowess and self-sufficiency. The initiative to revive HMT is viewed as a strategic move to foster domestic manufacturing capabilities and reduce dependency on imports, thereby supporting economic self-reliance goals.

Established in 1953, HMT played a vital role in India's industrialization journey before facing challenges such as financial constraints and intensified market competition. The proposed revival aims to create employment opportunities, stimulate growth in SMEs within the supply chain, and foster technological advancements in manufacturing.

Key considerations for the revival include ensuring financial viability through governmental support and strategic partnerships, modernizing technological infrastructure, and exploring new market segments to regain relevance in today's competitive landscape.

Kumaraswamy's endorsement underscores a renewed push towards leveraging India's industrial heritage to drive modern economic agendas, reflecting broader efforts under the Atmanirbhar Bharat initiative.