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By the Members, of the Members & for the Members

About ITS 2018

Consumer industries like automotive witnessed rise in demand for new technology and designs leading to a rise in demand for various innovative tools. The advancing technology in recent times has revolutionised the industry players who understand the need of such innovative products are rapidly growing. Tooling Industry – i.e. dies, moulds, jigs & fixtures of various sizes forms a key role in manufacturing process in almost every industry and are considered as mother industry.

The history of tooling industry in the country dates back to the Second World War. Traditionally the tooling industry grown with automotive and auto component industries. Today, sectors like white goods, FMCG, electrical switchgear, aerospace, railways, heavy engineering, pharma, food industry and others are contributing to the growth of the Indian tool making industry and vice versa. The government’s focus on ‘Make-in-India’ campaign and emphasis on upcoming industries and diversification into the emerging areas has provided a boost to the tooling sector with an expectancy of 15-20% year-on-year growth.

The tooling industry has substantial multiplier effect on the domestic economy, hence must be nurtured to become self reliant. Focus on developing the tooling industry will not only make it the indigenous source for the manufacturing industry within the country but also one of the major exporters that meet the standard of the global market. The estimated market size of Indian Tooling industry for FY 2016-17 is around INR 14,650 Crore with domestic manufactured tools at estimated at INR 11,950 crore is growing with locally manufactured tools through the adaptation of technology and working closely with industry, and willingness to work together.

Despite various liberal government policies, the sector is yet to make a mark in the global picture, but 100% FDI in the tooling industry is slowly attracting steady investors. However, the sector realises the need to match its global counterparts when it comes to technology up-gradation. The industry has managed to rise in the last 10 years but still has a long way to go.

The Tooling Industry in India needs a platform to voice its efforts, showcase its contribution towards our rising economy and much more. TAGMA India that has always taken up issues that is important for the industry is organising a two-day International Tooling Summit on 1st and 2nd February 2018 at The Leela Palace Chennai. It will help the industry to showcase their state-of-the-art technology, through technical sessions with great speakers from across the globe and latest current topics panel discussions.

The Executive Council of TAGMA India requests all its members, suppliers to the industry and technology experts to participate in this and make this event a grand success.