A coated cutting tool consisting of a substrate of cemented carbide, cermet, ceramics, steel or cubic boron nitride and a multi-layered wear resistant coating having a total coating thickness from 5 to 25 µm and comprising at least two refractory coating layers deposited by chemical vapour deposition (CVD) or moderate temperature chemical vapour deposition (MT-CVD), the at least two refractory coating layers including a first coating layer and a second coating layer being deposited on top of each other, wherein the first coating layer consists of titanium aluminium nitride or carbonitride Ti 1-u Al u C v N w , with 0.2 ‰¤ u ‰¤ 1.0, 0 ‰¤ v ‰¤ 0.25 and 0.7 ‰¤ w ‰¤ 1.15, and is deposited by CVD at a reaction temperature in the range from 600°C to 900°C, the second coating layer consists of titanium carbonitride Ti x C y N 1-y , with 0.85 ‰¤ x ‰¤ 1.1 and 0.4 ‰¤ y ‰¤ 0.85, and is deposited on top of the first coating layer by MT-CVD at a reaction temperature in the range from 600°C to 900°C, wherein the second Ti x C y N 1-y coating layer has a columnar grain morphology and the overall fiber texture of the Ti x C y N 1-y coating layer is characterized by a texture coefficient TC (1 1 1) > 2, the TC (1 1 1) being defined as follows: wherein (h k l) = measured intensity of the (hkl) reflection I 0 (h k l) = standard intensity of the standard powder diffraction data according to JCPDF- card no. 42-1489 n = number of reflections used in the calculation, whereby the (hkl) reflections used are: (1 1 1), (2 0 0), (2 2 0) and (3 1 1).