Planning a New Era of Growth

At the Indian Machine Tool Manufacturers’ Association’s (IMTMA) 78^th AGM, special sessions were held to deliberate on the Indian machine tool industry’s juncture on the global map, the challenges it encounters, opportunities waiting to be leveraged, the crucial role of advanced technologies including AI, and many more relevant subjects.

Source: IMTMA

Indian Machine Tool Manufacturers’ Association (IMTMA) held its 78^th Annual General Meeting (AGM) on September 27, 2024, at Bangalore International Exhibition Centre (BIEC), Bengaluru. Jibak Dasgupta, Director General & CEO, IMTMA; Rajendra S Rajamane, President, IMTMA; Vipin Sondhi, Independent Director & Advisor, Bain Capital - Automotive Sector; Bidisha Ganguly, Chief Economist, Confederation of Indian Industry (CII); Mohini Kelkar, Vice President, IMTMA; and N Ramanathan, Founder Member and Past President, Indian Society for Quality (ISQ), were among the dignitaries attending the meet.

Way ahead

Sondhi, Ganguly, and Ramanathan were the keynote speakers.  Sondhi presented his take on the opportunities and challenges for the Indian Machine Tool industry in making India a global manufacturing hub. He opined that India must become a product nation, strengthen industry-academia partnerships, and focus on research and development to produce innovative products. 

Ganguly’s presentation focused on the Indian economy and the likely scenario for the future. She believed that consumption and investments in manufacturing are important factors and India was doing well in these parameters. 

Ramanathan delivered a special address titled ‘Quality: The Journey Ahead’ in which he discussed the crucial role
of build quality in manufacturing to ensure that products are reliable, comply with industry standards, and meet customer expectations.

During the Business Session of the AGM, Rajamane presented IMTMA’s activities during FY 2023-24. He shared that the Indian Machine Tool industry’s production during FY 2023-24 was estimated to have increased by around 10 percent year-on-year, reaching `13,571 crore.

Selecting visionaries

At the Executive Committee meeting following the AGM, a new Executive Committee of IMTMA for 2024-2025 was formed. Rajamane was elected as the President of IMTMA for the year 2024-2025. Kelkar was elected as the Vice President for the year 2024-2025.

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