Q. Tell us about the key technological trends and innovation impacting the machining and cutting tool sector.
These are interesting times, which calls for manufacturers to device processes and technology that not only address the markets requirement of price with profitability but also technological innovations that provide a competitive edge to meet the end user’s demand.
It is thus an imperative obligation of technology leaders like Walter to be there for our manufacturing clients and provide them this needed competitive advantage through innovative cutting tool technologies, Product Quality and Expert Engineering Services.
Q. How do you perceive India as a market? What are the challenges and opportunities in your segment?
As the Indian economy shows signs of revival, we are confident of growth across manufacturing sectors in the ensuing fiscal to spur growth. Policy reforms and a slew of actionable measures being taken augur well for the economy to revive. The progressive initiatives coupled with efficient governance and successful implementation of strong policies will ensure the momentum sustains.
The perpetually growing competition in the manufacturing sector, both from local and global players, has led to an increased end-user expectation towards cost and technological competitiveness. Today, manufacturing companies need to act as cutting tool experts offering optimized machining solutions for increasing productivity and quality. Thus, Walter continually strives to offer solutions to customer like cost per component reduction, Tool machining cost, cycle time reduction, increase productivity, quality and performance ratio etc., that make them competitive in their end users.
At Walter, we act as partners and not only cutting tool suppliers, thus we concentrate with a holistic approach on the entire range of our client’s applications and on what they can achieve using our Specialized Optimization Solutions.
Looking ahead, how much growth do you foresee for the cutting tool sector in the Indian market? Which industry segments will be at the forefront in driving the growth?
The machining and the cutting tool sector is witnessing a lot of developments to keep pace with the changing market dynamics especially in terms of technology & new tool materials.
In terms of the segments, while the automotive segment contributes to a major share of Walter’s business, Walter has established its dominance in other resilient segments like railways, aerospace, power equipment and so on. Walter has experienced a very good growth in Energy, Railways and Aerospace sector in last 3 – 4 years due to their focus on developing new tools, providing optimized solutions.
We have a strong product line and customized solutions for very specific machining needs of these emerging sectors. Walter India has a clear market strategy for these industries, with a team of dedicated sector specialists in applications explicit to these industries. Our Engineers bring world class technologies with our global competence to Indian manufacturers.
The internal demand for Energy and Railways are high in India. Aerospace industry is mostly export based and it is showing a really impressive growth in the past few years.
In your view, how customer requirements for metal cutting tools have evolved in the recent years?
Today’s End users are demanding the latest in technology at the most economical cost. The industry has a continuously evolving appetite for improvement which calls for challenging applications, surfaces & materials to be machined. On top of that greater precision are needed to be achieved at an ever increasing productivity rate with rock solid process security.
The unprecedented pace of technological change gives opportunities to businesses for creating growth through rapid conversion with newer technologies. Identifying customer’s needs – often before they realize it themselves and creating the right solution, drives business growth. For Leaders of innovative technology (like Walter) it is most important to leverage the voice of the market and respond to their dynamic requirements. For example, Walter launches new product innovations every 6 months. Every tool, every machining strategy, every solution is polished until it performs to perfection. Walter pioneers in offering Customers a complete machining solution backed with technologically innovative and advanced products.
Selecting a cutting tool supplier with such competence in product innovation, backed with local engineering support & availability of the entire spectrum of cutting tool products in a single portfolio helps customers to have an edge in the industry against the competition.
Please elaborate on your company’s growth strategy for the Indian market? Are there any plans to manufacture locally?
Walter India has ambitious growth plans through market share gain and distribution base expansion during coming years. We rely on a solid growth strategy, which enables us to provide our customers a competitive advantage through innovative technologies, premium product quality and expert engineering services.
Walter India’s results show an upward trend as the Indian economy and the market conditions are revived and look favorable from business point of view. We expect a good growth in the coming months as well.
With a well laid strategy, Customer Focus approach, wide range of innovative products and machining solution offerings driven by a competent team, we are all set to make a mark and register a remarkable business growth.
