India’s machine tools sector is a critical part of the overall manufacturing sector, as it provides the machinery that delivers manufacturing output and drives productivity and growth. Growth in the manufacturing sector has led to a rapid increase in demand, especially for increasingly sophisticated CNC machines.
India stands 12th in production and 8th in the consumption of machine tools in the world as per the 2017 Gardner Business Media survey. The country is set to become a key player in the global machine tools industry and is likely to see substantial high-end machine tool manufacturing. While the large organized players cater to India’s heavy and medium industries, the small-scale sector meets the demand of ancillary and other units.
While imports have risen to meet the demand, local capacity in machine tools needs to be built to cater to long term growth. User segments, such as, automobiles and auto components and consumer goods are the key drivers for demand. Machine tool manufacturers will need to focus on the needs of these segments and look at developing customized products. In addition, thrust on R&D and innovation would be required to maintain technological parity with global players and remain competitive.
Indian machine tool manufacturers have been focusing on critical areas such as, reduction of idle time, increased asset utilization; productivity through quality improvement; optimizing processes; leveraging IT to increase productivity and better management of productivity through appropriate performance metrics. As companies look to source manufactured products from India, they expect the same level of technology and product development capability in India that is prevalent in other global markets.
Biz Bridge 2019 is a golden opportunity for the players who look to succeed in the sector in the long term. Having access to the latest technology is a key imperative for success in the Indian manufacturing sector. Biz Bridge 2019 will also serve as a one-stop platform for machine tool manufacturers to showcase the cutting-edge technologies, innovation and solutions they have adopted and are offering, in an appropriate and timely initiative. This exhibition will also see the convergence of high-profile business leaders, CII members and non-members from the manufacturing and engineering sector.