The central government is preparing a comprehensive plan to revive two key state-owned enterprises — Hindustan Machine Tools (HMT) and the Visvesvaraya Iron and Steel Limited (VISL). The move is aimed at revitalising India’s legacy manufacturing and steel sectors, which have been facing challenges due to ageing infrastructure and declining productivity.
The revival plan reportedly includes modernisation of production facilities, fresh capital infusion, and the introduction of strategic partnerships to enhance operational efficiency. Both HMT and VISL have a long-standing industrial legacy, having contributed significantly to India’s early industrialisation and self-reliance efforts.
HMT, once known as the “Timekeeper of the Nation”, has been a symbol of India’s post-independence industrial growth. However, over the years, it struggled to stay competitive in the face of changing technology and market dynamics. Similarly, VISL, a subsidiary of the Steel Authority of India Limited (SAIL), has faced operational constraints and low-capacity utilisation, prompting calls for urgent reform and investment.
Industry experts believe that the proposed revival could help strengthen the domestic manufacturing base, promote employment, and support the government’s Make in India and Atmanirbhar Bharat initiatives. It is expected that modern technologies, including automation and digital integration, will be prioritised to make both enterprises globally competitive.
The government’s move reflects a broader strategy to restore underperforming public sector units that hold significant industrial and historical value. If implemented effectively, the revival of HMT and VISL could mark a major step towards boosting indigenous production capacity, fostering innovation, and positioning India as a stronger player in the global manufacturing and steel supply chains.
