Parakramsinh G. Jadeja, President, IMTMA
While Make in India has changed the mindset of the business community and enhanced their entrepreneurial potential, Design in India will take the campaign to another level and place India on the global map, says Parakramsinh G. Jadeja, President, IMTMA. In an exclusive interview, he talks about the key challenges faced by the Indian machine tools industry, its future outlook, & steps IMTMA is taking to increase R&D and innovation. Excerpts:
Indian Machine Tool industry registered an impressive growth rate of 18% during 2016-17 as against 3% decline seen globally. Domestic manufacturing caters to over 40% of the country’s needs and the aim of the industry is to increase this considerably. India stands 8th in Consumption and 12th in Production, as per Gardner’s World Machine Tool Output Survey 2017.
Indian companies need access to technology as well as gain access to global markets. Acquiring technology in the manufacturing space will pay rich dividends. India’s domestic market is huge and absorbs much of its production. Our industry needs to focus on exports.
Indian companies are moving towards using new technologies such as Industry 4.0, Internet of Things, 3D Printing, etc. These would take manufacturing to the next level and make the Indian machine tool industry globally competitive.
Our R&D capabilities are growing and we see industries focusing towards innovation and new product development.
Industry is working with academic institutions to bring forth new technologies and commercialize their research projects.
IMTMA participates in reputed overseas Exhibitions and encourages its members to participate.
The technology tie-ups with global machine tool industries are creating opportunities for Indian companies to develop their business overseas.
IMTMA is working closely with premier institutions such as IITs to encourage R&D and innovations. The Government of India is supporting the machine tool industry in this endeavor. The collaborative approach has resulted in the development of new products which were displayed during the recently concluded IMTEX 2017 exhibition in Bangalore.
Make in India is a key initiative designed to facilitate investment, foster innovation and enhance skill development in the manufacturing sector. The campaign has provided a broad direction for manufacturers to invest in India, focus on infrastructure development and enhance manufacturing growth. Make in India has changed the mindset of the business community and enhanced their entrepreneurial potential. With GST coming into play and opening up of FDI in various sectors, the ‘Make in India’ movement has got a fillip.
Moving forward, Make in India needs a “design component” to become a guaranteed success. Designed in India will make the country an outsourced production hub. It would also place us strongly on the global map.
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