A huge amount of demand is foreseen across manufacturing segments

January 3, 2022 5:45 pm

We always bring innovative technology solutions for our customers’ business.

How do you view the growth prospects for the machine tool industry in India after the pandemic? 

The pandemic was a major issue for all Machine Tools companies between 2020 till March 2021. Post pandemic, we are now experiencing a spike in demand for machine tools in India. Many on-hold projects are getting opened up again. New projects are coming up as well, especially in the Aerospace, Medical and Defense sector. All machine tool companies in India are busy now. The machine tool market in India is projected to grow at a CAGR of 13% from 2020 to 2024 (ResearchAndMarkets. com). Considering the present demand cycle, it is very much possible. 

So, how do you find your company in this place of things? 

Look, Hurco is a technology company. We always bring innovative technology solutions to our customers. We ensure Print to Part to Profit faster than any others. We are experiencing distinct growth in India in Infrastructure, Aerospace, Medical Implants, Defence etc. All those segments mostly follow the production concept of a high mix – low volume. And Hurco technology is well-fit for this segment with the latest technology software. One of our patented software, ULTIMOTION offers superior motion & jerk control, and has a Variable Look Ahead Function of 10,000 blocks with a Block Processing Speed of 0.44mS. It has the capability of ‘rationalising’ the tool path – enables high-speed machining with exceptional control of acceleration & deceleration of the machine slides resulting in reduced machining time, increased surface finish & accuracy. All our controllers are 3/4/5 axis compatible, i.e. customers can use the machine with 4th and 5th axes simultaneously with the same controller. Along with this, many more unique and optional features ensure better performance achieving higher productivity with desired accuracies. All our machines are IoT enabled. Such a blend of Hardware and software differentiate Hurco machines from others. So with this next generation technology, we are hopeful to increase our market share in India. 

Among the range of products, which of your products command major market share in India as well as globally? 

Well, We promote two brands in India – Hurco and Takumi. For products, we have machines like turning centres, turn-mill centre, multi-axis machining centre, 3/4/5 axis VMC, C Frame, Box Type and double column machines with spindle speeds ranging from 10K to 40K. We also have HMC, Horizontal Boring and more. 3/4/5 Axes VMCs are popular in India and abroad, fetching maximum turnover year after year globally as well as in India. 

I think you have got 4 technology centres all over India. So, please brief us about their activities? Yes. We have a technology centre in Chennai and in Pune respectively, which are managed by Hurco India. We also have a technology centre in Ahmedabad which is being managed by our distributor. 

At a technology centre, we perform activities like organising open-houses, techno-shows etc. as well as regular training courses for existing and prospective customers. All customisations are done and tested at our technology centre. 

What are the plans and strategies for the next two to three years for the domestic manufacturing of machines? 

Our prime focus is to increase market share in India by providing the latest technology to our customers to make our customers globally competitive and more profitable. There is strong demand from our customers to start manufacturing in India. It is definitely under our consideration, but nothing has been set in stone yet. 

Post pandemic things are changing and businesses are coming back to normal activities, so, what is your view about the manufacturing outlook next year? 

The manufacturing plan is driven by Demand and there is a huge demand in the market at the moment, despite the new variant ( Omicron) creating some panic globally. We all understand how to manage the pandemic now. Hence there is minimal chance of total lockdown returning to India in the coming months. There will be a volume increase as there is a forecast of higher GDP and PPP (purchasing Power Parity ) in the coming months. We have been experiencing an increase in demand for machines in the last 6 months. Now there is no need to look behind. The situation is much better, our understanding is much better and the capabilities of Indian industries have become much more technology-oriented. We have a good bright future ahead of us. Therefore we are optimistic that we will witness the scale-up in manufacturing in the various segments in the coming years. 

How do you envision the financial aspects and banking assistance in the manufacturing industry? 

This is one of the challenges that need to be addressed on priority. Though there are many financial schemes available in the market, they are insufficient though, as most of the SMEs and MSMEs are still struggling for affordable finance. The opportunities are available, but most SMEs and MSMEs are not able to get benefits out of those opportunities. It is a need of the day, especially for the machine tool market. 

Do you think PLI launched by the government is going to assist the manufacturing industry? 

PLI ( Production Linked Incentives) are one more useful scheme for our customers to scale up the business portfolio. It is good news that the Automobile and Auto Components sectors are also included in the PLI Scheme. This scheme has been launched keeping with the view of India’s vision of becoming ‘Atmanirbhar’ and to enhance India’s Manufacturing Capabilities and Exports. The PLI Schemes are expected to enable the setting up of a wide supplier base for the global champions established under the scheme. And at the end of the day, those incentives will give customers more access to the new business which will definitely bring positive momentum to the market. Welcome, all such schemes to support SMEs and MSMEs.