Revival of HMT aligned with PM Modi's Atmanirbhar Bharat initiative: HD Kumaraswamy
Jun 22, 2024
Bengaluru (Karnataka) [India], June 22 : Union Minister of Heavy Industries and Steel HD Kumaraswamy on Saturday said that the revival of HMT is aligned with Prime Minister Narendra Modi's Atmanirbhar Bharat initiative.
"Revival of HMT is aligned with PM Modi's Atmanirbhar Bharat initiative," he said.
Union Minister of Heavy Industries and Steel HD Kumaraswamy today held a meeting with the top officials of Hindustan Machine Tools (HMT) Ltd in Bengaluru.
During the meeting, the Minister had discussions with the company's Chairman and Managing Director Rajesh Kohli, along with other senior officials. They observed demonstrations and received comprehensive information about the company's activities.
Minister Kumaraswamy reviewed details on turnover, net profit, and other key metrics. He discussed the financial, production, and operational conditions of the company with the officials.
The once-glorious HMT is currently facing significant challenges. The Minister emphasized the need to strengthen the company and instructed Rajesh Kohli to submit a proposal to the central government for necessary support.
Prime Minister Modi's Atmanirbhar Bharat (Self-Reliant India) initiative was highlighted as a framework for HMT's revival. Minister Kumaraswamy encouraged the officials to adopt this vision and lead the recovery efforts, assuring them of central government assistance.
The Minister noted that HMT produces tools for the Department of Defense and space programs, and has manufacturing units across the country. He suggested that the company should enhance its capacity.
Chairman Rajesh Kohli outlined the various problems HMT is facing, including financial crises, lawsuits, and overall losses. He stressed the need for central government intervention to resolve these issues.
In response, Minister Kumaraswamy promised to address these challenges. Senior officials, including Kolar MP Mallesh Babu and company director Samina Kohli, were present at the meeting.
