AN 8000-CRORE INDUSTRY OF A HEALTHY MIX of large multinational corporations supported by clusters of domestic MSMEs, the cutting tools industry has a small but noteworthy role to play in the country’s vision of self-reliant India. After a harrowing period of disruptions, businesses in the cutting tools industry are looking up and the industry is gearing up to cut through the mesh of pandemic-induced lockdowns.
“Now, after passing through the miseries of the second pandemic wave, the Indian industry is gettingback its lost momentum. After the massive disruption, wheels of progress have started rolling,” says Prashant Sardeshmukh, MD, MMC Hardmetal India Pvt Ltd., a Mitsubishi subsidiary.
Helping its morale is the expectation of adding new sectors to the conventional.
The cutting tools industry in India traditionally gets major business from the automotive sector. However, over the years, especially during the last five to six years, after government initiatives like ʹMake in Indiaʹ and ʹAtmanirbhar Bharatʹ, we are trying to establish a presence in other manufacturing sectors, viz. aerospace, railways, general engineering, medical & pharma, and infrastructure development to derive new business opportunities,” says Sardeshmukh.
With the shop floor abuzz again, there is an interest to brush through the latest products and solutions for cutting tools in the market.
TURNING APPLICATIONS
This story is from the December 2021 edition of Manufacturing Today.
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This story is from the December 2021 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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