Company History – HMT
HMT Limited, formerly Hindustan Machine Tools Limited, is a state-owned manufacturing company under the Ministry of Heavy Industries and Public Enterprises in India. HMT was entrusted the vital task of building machine tools and in 1953 the first Machine tool factory was set up in Bangalore.
Panditji’s vision to bring-in a sense of time consciousness among the Indians, his belief that India was capable of manufacturing precision components generated the pace for setting up a watch manufacturing unit within the country. In 1961, Government of India entrusted the job to HMT due to its capability, name and fame amongst the public sectors. HMT set up a watch manufacturing Unit at Bangalore in collaboration with M/s Citizen Watch Co., Japan in 1961. As the first manufacturer of Wrist watches in the country, HMT successfully absorbed the totally new precision manufacturing technology for mass production, and assembly of micro sized components. This tryst with ‘firsts’ continued and led to launch of India’s first Automatic Day-Date watch , first Quartz watch , first Braille watch, first Ana-Digi watch and so on.
The first batch of Hand Wound Wrist Watches was released by the Hon’ble Prime Minister Pandit Jawaharlal Nehru. Popularity and demand of watches was increasing which led the company to expand its capacity. Accordingly, the expansion was done as mentioned below. In 1972, Watch factory II was set up alongside the Bangalore Factory to manufacture Automatic Day Date Watches with Japanese Technology. Watch factory III was set up at Srinagar in 1972 with the entire Technical Knowhow from HMT engineers. In 1975, Watch factory at Bangalore was further expanded to manufacture Main Spring, Hair spring and Shock absorber components. By this, HMT totally acquired the technology of Mechanical Watch making.
Later on HMT set up manufacturing facility to produce 2 million watch components sets at Tumkur and Ranibagh in the year 1978 and 1985 respectively and watches were assembled at various assembly units spread over the country. This was done with the objective of dispersal of Industry and creation of employment besides catering to the demand for the product which got accepted very well in the market. In line with the market trend, Watch factory at Tumkur was partially converted to manufacture Quartz Analog Watches in collaboration with M/S Citizen Watch Co, Japan. To cater to the Niche market, a specialized watch case manufacturing facility was set up at Bangalore in 1983 .The project was implemented with in-house expertise, without any foreign collaboration.
Since 1985, HMT Watches has been actively involved in making Floral Clocks, Solar Clocks, International Clocks, Master-Slave clocks and Tower Clocks. The Garden clock at Bangalore thrills thousands of visitors every day.
In the year 2000, HMT Watch Business group was re-structured as HMT Watches Limited (a Wholly Owned Subsidiary of HMT Limited).
HMT Watches, having over 100 million satisfied customers, is a household name in the country and enjoys a good Brand Equity.
Successful technology absorption in all product groups through collaborations with world renowned manufacturers and further strengthened by continuous in-house R&D. Today, HMT comprises six subsidiaries under the ambit of a holding company, which also manages the tractors business directly.
HMT Limited took over Praga Tools Limited as one of its subsidiaries 1988. Praga Tools Limited was established in May, 1943 as Praga Tools Corporation Limited to manufacture machine tools with its head quarters at Secunderabad. It was renamed as Praga Tools Limited in 1963. It is mainly involved in manufacture of machine tools including CNC machines.
HMT Limited has 18 manufacturing units. The constituent subsidiaries are given below while the holding company retains the tractors business group.
HMT’s tractor business commenced its operations in 1971 in technical collaboration with M/s...
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