‘Make in India’ movement gets momentum at IMTEX

February 18, 2015 11:43 am

“IMTEX is a crucial exhibition to propel the Indian manufacturing sector towards productivity and high quality”
‘Make in India’, a major new national program designed to transform India into a global manufacturing hub, is started spreading its wings. Encouraged with the government’s commitment in facilitating ease in doing business, companies are increasingly expressing their interests in investing in India.
Market scenarioBuoyed by strong domestic demand the manufacturing sector in India is having huge potential to grow. According to a Mckinsey report, India’s manufacturing sector could reach $ 1 trillion by 2025. The sector has potential to account for 25-30 per cent of the country’s GDP and create up to 90 million domestic jobs, by 2025.
Business conditions in the Indian manufacturing sector continued to improve in fuelled by accelerated growth of output and new orders. According to the HSBC India Manufacturing PMI data, manufacturing operating conditions in India rebounded from 51 in September 2014 to 51.6 in October 2014.
Positive outlookThe optimism within the manufacturing sector was largely witnessed during the recently concluded IMTEX 2015. The 17th edition of South East Asia’s largest industrial show IMTEX
2015 and Tooltech 2015, organised by the Indian Machine Tool Manufacturer’s Association (IMTMA), was a grand success with the participation of over 900 exhibitors from 24 countries.L. Krishnan, President, IMTMA considers IMTEX 2015 is a great enabler of ‘Make in India’ which showcases technological developments, innovations, etc. He said, “IMTEX is the crucial exhibition to propel Indian manufacturing towards productivity and quality and to make Indian manufactured products globally acceptable. IMTEX is a crucial exhibition to propel the Indian manufacturing sector towards productivity and high quality, and to make Indian manufactured products globally acceptable. IMTEX 2015 also provided a thrust for the ‘Make in India’ movement and in turn the Indian economy.”
IMTEX 2015 showcased an exhaustive range of innovations and technological refinements in the complete product segment of metal-cutting machine tool; while Tooltech 2015 featured the newest trends in cutting tools and tooling systems from all across globe.
Talking about the latest developments in the industry, Jamshyd N. Godrej, Chairman, Exhibitions, IMTMA said, “IMTEX has always been a pioneer when it comes to showcasing the latest technologies and solutions from the global manufacturing industry. This year as well, visitors got to see some of the emerging trends in 5-axis machines, multi task machines, new gear cutting tools, (new measuring methodologies), force controlled robots etc.”
Karnataka calling!Karnataka has seen a major part of investment in the machine tools sector during the past decade. Inviting more and more investors in the state, R. V. Deshpande, Karnataka’s Minister for Higher Education and Tourism said, Karnataka is a hub for the machine tool industry and we have constituted a unique industrial policy that supports the sector. We assure manufacturers from across the world that they will receive our wholehearted support and urge them to set up their business in the state.”
“Our machine tool industry has a great future, but we have stiff competition from China. In such a scenario, costs will play a huge role and the emphasis has to be on reducing costs and undertaking quality research,” he acknowledged.
G. M. Siddeshwara, Union Minister of State for Heavy Industries & Public Enterprises, said, “IMTEX is a great platform for the machine tool industry where manufacturers from all over the world can showcase their best achievements.” He announced that the government is dedicating Rs 124 crore for the upcoming machine tools park in Karnataka. “We are also implementing several other measures like formation of new labour laws and the smooth acquisition of land in the state in order to attract manufacturers and give this crucial sector a much-desired thrust,” he adds.
The RendezvousIMTEX 2015 and Tooltech 2015 were held at IMTMA’s world-class facility – BIEC. The exhibition featured live display of more than 1,000 machines; eight group participations from China, Czech Republic, Germany, Italy, Japan, Spain, Taiwan and USA; international visitors from 50 countries besides Indian visitors from 26 states; and 40,000 decision makers and business delegations from many industries.”
The inaugural event was also attended by Ms. K. Ratnaprabha, Additional Chief Secretary to Karnataka Government; Ajay Shankar, Former Member Secretary, National Manufacturing Competitiveness Council (NMCC); Tarun Das, Founding Trustee, Ananta Aspen Centre and Former Chief Mentor, Confederation of Indian Industry (CII); and Debasish Mallick, Deputy Managing Director, Export-Import Bank of India (EXIM).