Corporate Galaxy Human Capital in association with RE-Imagine India
“Industry 4.0 – A Transformation in Manufacturing”
Are we ready for the opportunity ?
The Government of India as part of its efforts to address the concerns of the MSME Sector in the light of the economic stagnation brought about by the Covid19 situation, notified a series of programs and policy initiatives for rendering an AtmaNirmbhar Bharat – a self reliant India.
One of the major pillars for the creation of an Atma Nirbhar is the notification to curb imports of items. Indian MSMEs and other companies have often faced unfair competition from foreign companies and cheap imports into the country. Therefore, Global tenders will be disallowed in Government procurement tenders upto Rs 200 crores.
As per an industry report published in June 2019, the Indian machine tool industry was on a growth wave owing to the rise of the automobile industry. The trade body Indian Machine Tool Manufacturers’ Association (IMTMA) had predicted that for the year 2019-20, production of the machine tool industry would grow by 25 % and consumption by 20 %.
Globally, the Indian machine tool industry holds the 10th spot for production of machine tools and 8th for consumption, reported Gardner’s world machine tool output survey 2018. The Indian machine tool production (estimated) amounted to Rs 7,300 crores during 2017 – 18 registering growth of 25 % from Rs 5,803 crores during 2016-17.
Consumption of machine tools which amounted to Rs 14,700 crores during 2017 – 18 had increased by 27 % from Rs 11,600 crores. For the year 2019-20, production of the machine tool industry was estimated to grow by 25 % and consumption by 20 %.
It is interesting to note that the Indian machine tool industry has around 1000 units in the production of machine tools, accessories / attachments, subsystems, and parts. Out of these, around 25 in the large scale sector account for about 70 % of the turnover and the rest belong to the MSME sector of the industry. The large players, which are more organised, cater to India’s heavy and medium industries while the small-scale sector caters to the demands of ancillary and other units.
Leading countries that specialise in machine tools such as China, Japan, Germany, USA and Italy are also exporting their tools to the Indian market to benefit from the mammoth business opportunity in store. At the moment, India is one of the hot spots for the global machine tool industry and all the players want their share of the pie!
Join us as we examine the impact of the series of initiatives under the Atma Nirbhar Bharat on the MSME Sector of the machine tool industry which is of much significance for the automotive and engineering goods industry.
The sector has the potential of going beyond merely import substitution to exports in the near future.
Join us and get your questions answered by a panel of experts sparing their valuable time for the benefit of the Indian working class.
- What major policy changes have been notified by the Government of India which promise to change the outlook of the Machine Tools sector of the country for 2020 and beyond ?
- How should the sector prepare itself for utilizing the new opportunities in the sector ?
- What are the challenges currently being faced by the industry ?
- In which areas there are major export markets opening up for the machine tool sector ?
Come join us and delve deeper !
The Corporate Galaxy web events are designed for active interaction and exchange of working ideas among the participants. Our events feature subject matter experts drawn from the industry to present their points of view for the benefit of the audience.
|11:05 – 11:25 am||Aatm Nirbhar Bharat Notifications|
|11:25 – 11:40 am||The New World Order – Trade Winds|
|11: 40 – 12:00 pm||The Machine Tool Industry – The journey so far – and the way ahead (in numbers)|
|12:00 – 12:15 pm||New Age Manufacturing – Challenges & opportunities|
|12 :15 – 12:30 pm||Addressing the gaps|
|12:30 pm – 1:00 pm||Q & A|
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