By the Members, of the Members & for the Members
I hope you, your family, and colleagues are all keeping well.
We are going through unprecedented times. The pandemic has, in some way or the other, impacted all of us professionally and personally. However, like every good and bad experience, I believe ‘this too shall pass’. I am certain that good days are ahead of us and we will bounce back.
The second wave of COVID-19 hit us in April and May. It caused ripples, but the industry has shown signs of growth. No doubt we faced setbacks because of the pandemic. However, the industry has sustained strongly so far. It’s only a matter of time; we are poised for significant growth in the coming years.
As per various reports and research agencies, the Indian economy is most likely going to witness a strong growth over the next 10 years. This is definitely going to generate tremendous opportunities for Indian toolmakers. But to make the most of these opportunities, we need to gear up and equip ourselves with the latest infrastructure, technological know-how, and processes to enhance our capacity and efficiency.
No doubt, the industry is riddled with many challenges, such as availability of finance, inverted duty structure, lack of export incentives, common facility to carry out certain operations, finding skilled manpower, and the unavailability of tooling clusters in the country. However, in spite of these challenges, there has been considerable growth.
At TAGMA, we have started working closely with policymakers to present the challenges of the industry. I am sure, with our constant interventions, the Government will soon draft a few industry-friendly policies to help this strategic sector grow.
In the meantime, I would like to invite suggestions from members and industry professionals on what role TAGMA could play to help the industry in this challenging time. Looking forward to hearing your suggestions.
Devaraya M Sheregar
President
TAGMA India
