Building On Success

Despite Being In A Sweet Spot With Demand Outpacing Supply, Key Machine Tools Vendors Continue To Look For Ways To Support Customers With New Technologies And Solutions.
 

- Mitalee Kurdekar

GIVEN THE THRUST ON MANUFACTURING AS well as other key sectors, the Indian machine tools industry is expected to thrive in coming times on the back of unabated demand from user industries. In fact, demand levels are already seen to be outpacing supply. However, the industry continues to depend heavily upon imports. This reliance on imports, and the resulting foreign exchange drain, is significant in the backdrop of the manufacturing sector gradually gaining momentum.

Agreeing on the existing issue of import reliance, Swapnil Apte, director, Danobat Group Machine Tools India, points out, “Particularly for turning & grinding machines, the overall expected growth is more than 20%. Within this growth, the market share from foreign suppliers would be approximately 65%.” European manufacturers, he says, have an edge in grinding technology.

Having said that, with the Government’s continued push on Make in India and efforts to make India a reliable source of regional supply, the industry is witnessing many global players being drawn to India as an alternative outsourcing location. Cost competitiveness, availability of requisite skill-sets and a favourable investment climate are the key factors helping with this intent. Having said that, challenges such as lack of local technology development, a price-sensitive marketplace and absence of a complete range of products, remain.