BENGALURU: Union Minister of Heavy Industries and Steel, HD Kumaraswamy held a meeting with the top officials of Hindustan Machine and Tools (HMT) Company in Bengaluru on Saturday.
Union Minister Kumaraswamy held discussions with the company’s Chairman and Managing Director Rajesh Kohli, along with other senior officials during the meeting.
The meeting observed demonstrations and received comprehensive information about the company’s activities.
Minister Kumaraswamy reviewed details on turnover, net profit, and other key metrics and 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 Narendra Modi’s Atmanirbhar Bharat (Self-Reliant India) initiative was highlighted as a framework for HMT’s revival. Kumaraswamy encouraged the officials to adopt this vision and lead the recovery efforts, assuring them of central government assistance.
A meeting was held with Mr. Rajesh Kohli, Chairman and Managing Director, and other senior officials at the head office of Hindustan and Tools and Machines (HMT) in Bangalore.
Comprehensive information was obtained about the company’s operations and discussed aligning their… pic.twitter.com/UuxfwudL43
— ಹೆಚ್.ಡಿ.ಕುಮಾರಸ್ವಾಮಿ | H.D.Kumaraswamy (@hd_kumaraswamy) June 22, 2024
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. (ANI)