— High speed machine tool is one of the basic needs in catering to a wide range of machining parameters with tight tolerance band. In high speed machine tool many key factors like geometric, cutting force and thermal errors decides the performance of the machine. However amongst these three, error due to thermal deformation is an important factor in influencing the accuracy level of component produced. A survey amongst Indian machine tool manufacturers reveals that there is a strong need to infuse recent technological developments in thermal error prediction and derive methodologies to minimize the same in high speed machine tool. This paper attempts snapshots of a review relating to the errors causing thermal deformations and the modeling techniques developed by researchers and practitioners globally in present scenario. The conclusions made at the end of this paper may not give the full solutions to the problems relating to thermal error but, gives a broad perspective for the Indian machine tool manufacturers’, practitioners as well researchers in India to look in to the research relating to thermal error modeling, analysis and corrective measures.