Blog

We are at the beginning of a new decade and it is great to see much hope and optimism for the manufacturing sector.

Managing one's career is an unending pursuit that needs to encompass personal and professional goals in a balanced manner in alignment to business needs.

As this year draws to a close, we look both backward and forward while compiling the present MMI issue. At the inception of MMI, we vowed to always do what is right and not just what is easy and popular.

Indian Machine Tool Manufacturers' Association (IMTMA) is delighted to publish the November edition of its Modern Manufacturing India (MMI) magazine. Many thanks for your continued interest.

I feel privileged to address the readers of Modern Manufacturing India (MMI) magazine, for the first time, after being elected as the President of Indian Machine Tool Manufacturers' Association (IMTMA).

India, this year, had many reasons to celebrate its National Sports Day, which it did with much fervor and gaiety. Ace Indian shuttler P V Sindhu redefined our country's sports history by becoming the first Indian to win a gold at Badminton World Federation (BWF) World Championships.

As one of the fastest growing economies in the world, India is one of the few bright spots in the world economy. The country which aspires to become a $5 trillion economy by the year 2024-25 with manufacturing sector alone contributing $1 trillion is expected to overhaul its manufacturing infrastructure. The auto industry, one of the major consumers of machine tools, is facing headwinds but we expect it to bounce back in the near future. Espousing technologies and solutions across the entire spectrum of industries along with optimized resource utilization will enable manufacturers to tide over the numerous challenges confronting them. The machine tool industry perhaps needs to explore more avenues such as defence and aerospace and make an impact there.

We are witnessing some challenges in the economy, especially in the automotive sector, which is undergoing some major disruption with the Government's push for electric vehicles and a slowing down in demand for petrol and diesel variant vehicles.

From visibility to striking new deals, exhibitions and trade shows offer opportunities no business would want to miss out on. It is a strategy that has withstood the test of time, playing a significant role in the success of most machine tool companies.

The year 2019 - 2020 is bringing in a lot of renewed hopes for India. The country has elected the NDA Government led by Prime Minister Narendra Modi with a thumping majority which sets it on a path for aspirational and inclusive growth. In one of his first meetings with central government secretaries since the formation of the government, the Prime Minister stressed the need for taking decisions to make India a $5 trillion economy with the manufacturing sector contributing around $1 trillion towards it.