HMT is a well-known name in the Indian manufacturing sector, but do you know what it stands for and what it does? In this blog, we will explore the full form of HMT, its history, its products, and its current status.
Full Form of HMT
The full form of HMT is Hindustan Machine Tools Limited, a government-owned enterprise that operates under the Ministry of Heavy Industries and Public Enterprises in India. It started in 1953 as a company that makes machine tools, with the goal of providing low-cost and high-quality machines for different sectors.
History of HMT
HMT began with a modest plant in Bangalore, where it made its first product, a lathe machine, in 1955. HMT gradually increased its product variety and branched out into other sectors, such as watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, and CNC systems and bearings. HMT also set up several subsidiaries and joint ventures to serve different markets and customers.
HMT achieved many milestones and accolades of “being the first” in its journey, such as:
- To manufacture wristwatches in India in 1961
- To manufacture tractors in India in 1971
- To manufacture CNC machines in India in 1975
- Being awarded the Bharat Ratna Sir M Visvesvaraya Quality Award in 1996
- Being conferred the status of Mini Ratna by the Government of India in 1997
Products of HMT
HMT has a wide range of products that serve various sectors and industries in India and abroad. Some of the products of HMT are:
- Machine tools
- Printing machinery
- Metal forming presses
- Die casting and plastic processing machinery
- CNC systems and bearings
Current Status of HMT
HMT has struggled a lot in recent years because of various reasons such as competition from private players, obsolete technology, shortage of funds, and poor management. Many of its divisions have been shut down or sold off by the Government of India due to huge losses. As of now, HMT has six subsidiaries under its holding company, which are:
- HMT Machine Tools Limited
- HMT International Limited
- Praga Tools Limited
- HMT Watches Limited
- HMT Chinar Watches Limited
- HMT Bearings Limited
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