Page 12 - MMI - JanFeb 2021 single

IMTMA’S DESK

Source: Magic Wand Media

OPENING UP NEW VISTAS

Our machine tool industry is gaining momentum through the Government’s
PLI schemes meant to provide a thrust to the nation’s manufacturing activities

and turn it into a manufacturing hub. To aid in this endeavor, IMTMA has
formed sectoral task forces to understand the needs of various industries and
offer total solutions to them.

a
form
manufactur-
M achine tools of any To make India Government of Sectoral task forces
ing hub,
the
The
Indian
the
Machine
Tool indus-
bedrock
manufacturing ac- India has launched several try has a market size of around
tivity and the nation’s overall PLI schemes aimed at usher- US$ 1.6 billion (FY 2020-21),
economic development. Manu- ing in manufacturing-induced of which domestic production
facturing is always strong growth, making the industrial accounts for around 50 percent
when the Machine Tool indus- sector a key growth driver, and of the total consumption. The
try is strong. Worldwide, coun- setting the country on a higher industry globally ranks 13 th in
tries like Germany, Japan, growth terrain. The identifi- production and 7 th in consump-
China, USA, Italy, Switzerland, cation of champion sectors is tion as per Gardner Intelligence’s
South Korea, and Taiwan are expected to propel investment ‘World Machine Tool Survey
strong in manufacturing as and create demand for the Cap- 2020’. It derives a more signifi-
they have a robust Machine ital Goods sector. PLI benefi- cant proportion of its business
Tool industry that helps ciary companies are expected from the Auto, Die & Mould, and
factories produce brands that to make investments in plants General Engineering industries.
can be sold across the and machinery. This augurs However, with the thrust given
world. The more sophisticated well for the Machine Tool in- by the Government to various
the performance of machine dustry, which, for its part, is fo- sectors through PLI schemes,
tools, the greater the indus- cusing on developing machines the Machine Tool industry,
Source: IMTMA trial output. to meet the requirements. while continuing to do business

12 | January-February 2022 Modern Manufacturing India