Q. prospects of the Indian die & mould industry?
The Indian Die and Mould Industry is growing rapidly, thanks to the growing demand from the OEMs. End-users are trying to source more and more tools from the domestic suppliers which is a good sign as it not only helps in getting better business opportunities but also to enhance the productivity and capabilities. Companies in India, I see, are now ready to adopt technologies. There is always a limitation for good machines and good dedicated manpower, and also the input cost is a big bottleneck. However, things are changing gradually and we can expect happy days ahead.
This industry is growing in India basically because of the demand from automotive, packaging, electronics appliances, and home appliances, among others. In coming days, this demand is expected to grow even further and further propel the need for more and more Dies and Moulds. Currently the demand is higher than supply in India, which is one of the reason for high imports of tooling in the country.
Q. What are the top trends you observe in the industry?
As the Indian Die and Mould industry is getting matured and having a constant double digit growth every year, manufacturing of complex moulds is getting easier for the tool suppliers in India. Currently, all automotive manufacturers are trying to reduce the weight of the vehicle by using plastic parts. For example, the weight of Maruti SWIFT car produced by Maruti Suzuki is reduced almost by 300 Kg. Also, electric cars are growing and it will also have a huge amount of plastic parts in the cars, so the demand will definitely increase. In my opinion, tool suppliers will have to closely watch these automotive changes and align their strategies accordingly.
 Q. What are the various challenges in the industry?
I believe the major challenges faced by this industry are manpower, lack of finances and Government policies like high import duty on Machine Tools and Cutting Tools. As die & mould and machine tools are the pillars of the manufacturing sector, Government should have special focus to uplift this industry. If we have a strong die & mould and machine tool industry in the country, we certainly will have a world-class manufacturing output in the country. Also, the government should encourage new and young entrepreneurs by providing them easy finances options for capital investments. Tooling sector is very capital intensive. If we have to encourage more people to join the industry, we must as a nation support them with finance and skill development.
Q. What are your suggestions to Indian tooling suppliers?
As cutting tool suppliers to die mould industry, I would say your upmost focus should be in technology. Now the world is looking at us; OEMs are ready to source tools from India and we are having steady growth, and so our response should be impactful. We cannot, anymore, overlook the technology. We must upgrade ourselves and adapt to the latest happenings around the world. There is no doubt we have capabilities and skills…however we still need to go a long way.
Q. How do you visualize the future of Indian tooling industry?
As we are witnessing a high growth in Indian economy, I believe Indian tooling suppliers can look forward to positive days ahead. The entire consumer industry, including automotive, is witnessing a healthy growth rate in India and the quality level of Indian suppliers is constantly improving. So I think tool makers in India have good opportunities and a bright future.
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