Abstract - Presently the manufactures are facing a great pressure to reduce cost of manufacturing and provide new and quality products in the market on a regular basis. The India’s manufacturing sector is striving hard towards operational excellence. Reduction of waste, improvement of quality, higher through put and overall more efficient production system is leading India towards a manufacturing revolution. A good number of companies have started implementing a range of business strategies including going lean, and using manufacturing strategies such as TPM, TQM, Six Sigma, JIT etc.  to obtain operational excellence. Total Productive Maintenance (TPM) refers to a management system for optimizing the productivity of manufacturing equipment. A study to evaluate the implementation aspects and success factors of TPM initiatives taken by Indian industry for achieving manufacturing excellence is carried out and presented in this paper. There remained considerable improvement in the morale of employees, skill level of employees, technological up-gradation, machine conditions, and customer satisfaction level after TPM.  Also the industries remained successful in improving their overall equipment effectiveness (OEE) up to 30% and some of them achieved the world class level of 95% OEE.