By the Members, of the Members & for the Members
The second edition of ‘Tool Talk’ organised by TAGMA, powered by TAGMA TIMES was held on 28th May 2021. The Guest speaker for the event was Mr. Rajesh Nath Managing Director, German Engineering Federation (VDMA) India
Link to the discussion video is
https://www.youtube.com/watch?v=A2co7osCa1M
Below are some of the highlights of the discussion
- With a trade history of over 500 years, India and Germany are linked by a common past of economic cooperation. In the 19th century, it was the German company Siemens that built the first telegraph connection between Kolkata and London, via Berlin.
- Germany is the global leader in technology because of the investment in R&D. VDMA members invest around 10% of turnover in R&D. This needs to develop in India for increasing the “value add” for the development and growth of the industry
- Industry-academia partnership has matured in Germany that has helped the country in innovations. The same should be applied in India
- Skill development and process engineering are the need-of-the-hour in the Indian manufacturing eco-system.
- This decade belongs to India. Indian holds huge business opportunities in the coming years as we are one of the fastest-growing economies (barring the ongoing pandemic), with the largest younger population, and increasing consumer purchasing power
- Indian tool makers are well-positioned to increase their share in the global tooling industry. However, they need to work on capacity enhancement
- Industry4.0 will change the way we have been manufacturing goods/products.
Link to the discussion video is https://www.youtube.com/watch?v=A2co7osCa1M
