India, an Emerging Destination for Manufacturing

A country’s economic growth and prosperity include manufacturing as a key component, and the story is no different for India, where manufacturing is becoming an integral part of its growth. The performance of key sectors like automotive, engineering, pharmaceuticals, consumer durables, and sunrise sectors is aided by the machine tool industry, the backbone of manufacturing.

As per the Government of India’s estimates, manufacturing is expected to contribute around US$ 1 trillion by 2025-26. The Government’s thrust on exports and a rising middle class, which is expected to have the second-largest share in global consumption by around 2030, are encouraging signs for companies to step up investments.

Meanwhile, the machine tool industry needs to invest in precision manufacturing, automation, robotics, artificial intelligence, industrial Internet of things, and so on for outcome-oriented results.

To provide a more focused approach and elevate India’s manufacturing aspirations, the Indian Machine Tool Manufacturers’ Association (IMTMA) is organizing the ‘India Opportunities’ Session during the International Manufacturing Technology Show 2024 (IMTS 2024) at McCormick Place in Chicago, IL, USA, from September 9 - 14, 2024, which will be an opportunity to strengthen collaborations between India and the US.

Modern Manufacturing India (MMI) will be offering updates on the event and the opportunities seized by Indian manufacturing players during the trade fair in its upcoming editions. Stay tuned for the same and more, and wish you a joyful reading experience.

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