Today manufacturing is focused on nano technology products which are necessary for manufacturing variety of micro products like micro – turbine, micro-assemblies etc. However manufacturing of these products to high precision and accuracy is a challenge before manufacturing community. Final finishing of product category becomes critical and labour intensive and difficult to control. These technology products depends upon ultra-precision finishing process and it give longer fatigue life with least wear/tear. Precision engineering concerns the manufacture of items that have wide range of sizes, form those that are as large as the satellite rocket launcher to ones that are as small as microchip. The necessity of having high precision due to following reasons * Reduction in the running cost * To extend life span * To improve interchangeability of components so that corresponding parts made by other factories can be used in their place * To improve quality control through higher machine accuracy capabilities and hence reduce scrap rework and conventional inspection * To achieve greater fatigue life of components.