"Rapid adoption of advanced technologies is a defining trend in the Indian tooling landscape"

VP, TAGMA and MD, S&T Group. In an interview with Neha Basudkar Ghate, he articulates that the Indian tooling industry is positively evolving with increased digital adoption and skill development, driven by robust economic growth, rising purchasing power, growing Foreign Direct Investments, and a steady uptick in manufacturing output.

- Shanmugasundram

Can you provide an overview of the current state of the Indian die mould industry, highlighting key trends and developments that have shaped the market in recent years?

In the dynamic landscape of the Indian tooling industry, several notable trends are shaping its trajectory. One significant trend is the evident move towards diversification. Traditionally reliant on the automotive sector, tooling companies in India are increasingly exploring opportunities in emerging sectors. This strategic shift allows them to mitigate risks associated with sector-specific dependencies and fosters a more resilient and expansive business model.

Another transformative trend is the accelerated adoption of digital solutions. The aftermath of the pandemic highlighted the invaluable benefits of digital technologies in maintaining operational continuity. Tooling companies are progressively integrating digital solutions into their business operations, streamlining processes, enhancing efficiency, and ensuring adaptability in the face of evolving challenges.

Skill development emerges as a critical trend, driven by the rising expectations of customers. The tooling industry is witnessing an evolution in customer demands, necessitating continuous skill enhancement among professionals.

Moreover, the rapid adoption of advanced technologies is a defining trend in the Indian tooling landscape. With many Indian companies now catering to global customers, there is a growing demand for high precision and swift turnaround times. To meet these global standards, tooling companies are proactively embracing the latest technologies, ensuring that their capabilities align with the evolving needs of the industry.