Journal of Emerging Trends in Engineering and Applied Sciences: Research Areas

Abstract:
Industrializing economy looks for the development of supporting systems. Technology grows when they are put into action in the sense that has more utility. Technological change and resulting industrialization requires support of machine tools. Multiplier effect of industrialization creates scope for machine tools. However economics of such sub-systems have to be viewed as a small industry, under microeconomic perspectives. Such an attempt is made in this paper. The paper examines the growth and working of Bengaluru Machine tool cluster. It examines the reasons for its success and the potential for the cluster to grow. It identifies the need for clustering of the small scale units. Clustering helps in the growth of the small scale firms in facing global competition. The study highlights the achievements of the cluster and the areas that need to be developed by the cluster which enhance the growth and productivity of the member firms. It concludes that with few shortcomings and challenges, the cluster has a great potential to develop.

Keywords: Machine Tool cluster, Cluster, Machine tools, BMTMN, Bengaluru Machine Tools

Download full paper