Centre fast-tracks HMT revival plan; ₹2,000 crore package under consideration 

The Centre has stepped up efforts to revive state-owned engineering major Hindustan Machine Tools (HMT), with the government fast-tracking a revival plan involving an investment of more than ₹2,000 crore, government sources said.

Heavy Industries Minister HD Kumaraswamy has submitted a proposal for the revival package to Finance Minister Nirmala Sitharaman, sources said.

The proposal is expected to be taken up by the Union Cabinet soon.

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 The proposed package is aimed at strengthening HMT’s existing manufacturing capabilities and providing a fresh push to the company’s operations.

HMT, once among India’s prominent engineering and manufacturing companies, has faced prolonged financial and operational challenges over the years. The proposed revival plan is expected to focus on making better use of the company’s existing manufacturing infrastructure and capabilities.

The move comes as the government looks to strengthen domestic manufacturing capacity and revive strategically important public-sector industrial assets.

Further details of the proposed investment, including the allocation across HMT’s manufacturing operations and the structure of the revival package, are expected to emerge once the proposal moves through the Cabinet approval process.