Value Stream Mapping technique involves flowcharting the steps, activities, material flows, communications, and other process elements that are involved with a process or transformation. In this respect, Value stream mapping helps an organization to identify the non-value-adding elements in a targeted process and brings a product or a group of products that use the same resources through the main flows, from raw material to the arms of customers. In this study, a practical study carried out in a manufacturing industry for the manufacture of Machining center is discussed. The main aim was to draw the current state value stream mapping for the main components like Base, Column, Cross Slide, Milling Head and Table. Further, the paper has identified some of the processes which can be carried out by the sub contractor and suggested measures to be taken up by the higher level management in reducing the non value added process. It discusses the reduction in the set up time and cycle time that can be obtained through the implementation. This paper also discusses the plan of action for improving the Future State Value Stream Mapping (FVSM). A FVSM for the manufacture of Base is drawn.