Page 6 - MMI_-- JulyAug2021 (single)

FOREWORD

TOWARDS A STRONG COMEBACK

Dear Readers,

The Indian Manufacturing industry has stayed resilient and is working to
overcome all the challenges over the past two years due to the impact of the
Covid-19 pandemic and the overall economic situation.

It may take some time for disruptions in the supply chain, logistics, and cash
flow to stabilize but the consensus is that the Indian Machine Tool industry
may see demand increasing in the medium to long term. Although the entire
manufacturing supply chain was perhaps poised to embrace new-age technol-
ogies in their manufacturing processes before the Covid outbreak, the current
situation is but fast-tracking.
Last year, the Government of India launched the Emergency Credit Line
Guarantee Scheme to provide `3 lakh crore of unsecured loans to MSMEs to
mitigate the distress caused by the coronavirus-induced lockdown. Recently,
the Government increased the limit to `4.5 lakh crore, which will boost confi-
dence among manufacturers in an industry dominated by MSMEs.
This is expected to open new avenues for companies to continue serving their
traditional customer base besides exploring opportunities in sectors that offer
scope for growth. Some of these sectors such as Medical Equipment, Pharma,
Aerospace, Defence, Railways, etc. are being looked at more closely.
Indian Machine Tool Manufacturers’ Association (IMTMA) has rescheduled
IMTEX - the International Machine Tool and Manufacturing Technology
Exhibition. The combined ‘IMTEX (with focus on metal cutting), IMTEX
INDRADEV BABU FORMING (with focus on metal forming), and Tooltech 2022’ will be held at
PRESIDENT Bangalore International Exhibition Centre (BIEC) in Bengaluru from January
INDIAN MACHINE TOOL 20 - 26, 2022.
MANUFACTURERS’ ASSOCIATION With India undergoing one of the biggest vaccination drives, things are ex-
(IMTMA) pected to be normalized by the end of this year, which would build confidence
among exhibitors and vis-
itors to travel within and With India undergoing one of the
from outside India to par- biggest vaccination drives, things
ticipate in IMTEX and other
exhibitions in the country. are expected to be normalized by the
end of this year, which would build
Last but not least, it is high-
ly important to prevent confidence among exhibitors and
negative sentiments cascad- visitors to travel within and from
ing into everyday life, avert outside India to participate in IMTEX
collateral damages and keep
ourselves going. and other exhibitions in the country.

Have a great year ahead and stay safe.

6 | July-August 2021 Modern Manufacturing India