GOVT SUPPORT FOR R&D IS CRUCIAL TO OVERCOME TECHNOLOGY GAPS AND REDUCE THE IMPORT OF HI-TECH MACHINES
The Machinist|February 2024
Rajendra S. Rajamane has been instrumental in amplifying the machine tool industry’s export potential since he took charge as the President of IMTMA. In an interview with Nisha Shukla, he discusses his perspective on dealing with challenges, export-oriented tactics, skill-building initiatives, and the IMTMAs role in supporting policy advocacy, research, and innovation.
GOVT SUPPORT FOR R&D IS CRUCIAL TO OVERCOME TECHNOLOGY GAPS AND REDUCE THE IMPORT OF HI-TECH MACHINES

What, according to you, are the key challenges the Indian machine tool industry is facing today?

The machine tool industry faces persistent challenges affecting its business success. Many SMEs and MSMEs struggle with limited funds for R&D and manufacturing high-quality products at competitive prices. Collateral-free debts such as the Startup India Seed Fund Scheme and the SIDBI Fund of Funds will help these industries and aspiring entrepreneurs gain access to low-cost capital and overcome cash flow issues.

India needs to lower its dependence on foreign suppliers for machine tool components and subsystems through a mix of policy initiatives that tap into the design and manufacturing capabilities of companies. Government support for funding R&D initiatives is needed to overcome the technology gap in curbing the import of hi-tech machines.

Additionally, addressing the attractiveness of salaries is essential to attract top engineering talent to the machine tool and manufacturing sectors. Also, global machine tool manufacturers are establishing facilities in India, giving more competition to domestic manufacturers.

How does IMTMA envision the Indian machine tool industry enhancing its export market potential and finding new avenues? What key factors need to be kept in mind?

This story is from the February 2024 edition of The Machinist.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the February 2024 edition of The Machinist.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM THE MACHINISTView All
BFW INAUGURATES ITS STATE-OF-THE-ART MANUFACTURING FACILITY IN HOSUR
The Machinist

BFW INAUGURATES ITS STATE-OF-THE-ART MANUFACTURING FACILITY IN HOSUR

BFW recently inaugurated its state-of-the-art manufacturing facility at Devaganapalli, Hosur, Tamil Nadu. The event was graced by wellknown thought leaders, members of BFW Board, over 50 overseas global partners of BFW and 300+ senior manufacturing professionals representing prestigious clients and close-knit ecosystem of supply chain partners.

time-read
1 min  |
May 2024
WALTER INTRODUCES NEW COMPETENCE BRAND FOCUSING ON LIGHTWEIGHT MACHINING
The Machinist

WALTER INTRODUCES NEW COMPETENCE BRAND FOCUSING ON LIGHTWEIGHT MACHINING

Walter is raising its profile for the machining of lightweight components with the new Walter FMT competence brand.

time-read
1 min  |
May 2024
UNPACKING THE FUTURE: THE INTERNET OF PACKAGING REVOLUTIONISES SUPPLY CHAINS AND CONSUMER EXPERIENCES
The Machinist

UNPACKING THE FUTURE: THE INTERNET OF PACKAGING REVOLUTIONISES SUPPLY CHAINS AND CONSUMER EXPERIENCES

The article explains how the Internet of Packaging (IOP) is changing traditional packaging methods. With the help of technologies such as QR codes, RFID, and NFC, smart packaging goes beyond its conventional function as a container

time-read
4 mins  |
May 2024
DE-SKILLING - THE FASTEST WAY TO RAISE PRODUCTIVITY
The Machinist

DE-SKILLING - THE FASTEST WAY TO RAISE PRODUCTIVITY

Often viewed as a negative trend in the workplace, de-skilling can offer numerous benefits that can lead to increased productivity and reduced laborious efforts. The article demonstrates how companies can augment their efficiency by utilising the potential of workers while simplifying processes through de-skilling.

time-read
4 mins  |
May 2024
WE ARE HEAVILY INVESTING IN THERMAL MANAGEMENT SOLUTIONS
The Machinist

WE ARE HEAVILY INVESTING IN THERMAL MANAGEMENT SOLUTIONS

Vikas Marwah, CEO of Lumax Auto Technologies Limited (LATL), sheds light on the driving factors that led to the development of automotive air intake systems recently unveiled at Lumax Cornaglia Auto Technologies (LCAT) Private Limited's new facility located in Chakan, Pune. Additionally, he talks about the newly introduced rotational moulding technology and the competitive edge it will offer in terms of innovation and growth in an interview with Nisha Shukla.

time-read
4 mins  |
May 2024
FARMING FORTITUDE: GALVANISED STEEL'S VITAL ROLE IN AGRICULTURAL ADVANCEMENT
The Machinist

FARMING FORTITUDE: GALVANISED STEEL'S VITAL ROLE IN AGRICULTURAL ADVANCEMENT

From protecting valuable assets to supporting critical infrastructure, the article delves into the critical role galvanised steel plays in fostering the success of the agricultural industry.

time-read
3 mins  |
May 2024
THE FUTURE OF SOFTWARE DEFINED VEHICLES IN INDIA
The Machinist

THE FUTURE OF SOFTWARE DEFINED VEHICLES IN INDIA

The article explores the potential and future of 'software-defined vehicles in India', investigating the evolution of software-driven mobility, the integration of sophisticated technology, and its growing impact on the Indian automotive industry.

time-read
4 mins  |
May 2024
LEVERAGING AI & ML IN ENHANCING CUSTOMER EXPERIENCE IN NBFC IN INDIA
The Machinist

LEVERAGING AI & ML IN ENHANCING CUSTOMER EXPERIENCE IN NBFC IN INDIA

The article delves into the ubiquitous role artificial intelligence (AI) and machine learning (ML) algorithms play in positively shaping the customer experience and the operations of Non-Banking Financial Companies (NBFCs) in India.

time-read
4 mins  |
May 2024
OUR STRATEGY IN EMERGING MARKETS FOCUSES ON INNOVATION AND AFFORDABILITY
The Machinist

OUR STRATEGY IN EMERGING MARKETS FOCUSES ON INNOVATION AND AFFORDABILITY

For Wilo Group, emerging markets have always served as a conducive ground for innovation and expansion. While it comes with numerous challenges and opportunities, for Jens Dallendoerfer, Senior Vice President of Sales Region Emerging Markets, Wilo Group, the most compelling aspect of tapping emerging markets is the sheer scale of untapped demand and growth potential. In an interview with Rahul Kamat, he candidly talks about the company's approach to making inroads in emerging markets.

time-read
5 mins  |
May 2024
LINDSTRÖM LAUNCHES FLOOR MAT RENTAL SERVICE FOR INDIA
The Machinist

LINDSTRÖM LAUNCHES FLOOR MAT RENTAL SERVICE FOR INDIA

Lindström India, a 100 per cent subsidiary of the Finnish Lindström Oy, a global textile rental company offering workwear and cleanroom services, has launched the unique floor mat rental service for India.

time-read
2 mins  |
May 2024