| Sector Watch |
Expand Your
HORIZONS
The Indian tooling industry has always basked and flourished in the
opportunities provided by the automotive and auto components
sectors. However, the COVID-19 pandemic presented unheard of
challenges, which threw even global economies in a tizzy. Many
businesses shut down, but there were many others, which decided to
explore opportunities in other sectors. Here, we take a look at some
sectors that toolmakers can consider exploring.
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AEROSPACE & DEFENCE
The Indian aerospace and defence industries are growing significantly,
presenting startups as well as existing players tremendous opportunities
to grow. According to a report by the India Brand Equity Foundation
(IBEF), “The Indian aerospace & defence (A&D) market is projected to reach
~US$ 70 billion by 2030, driven by the burgeoning demand for advanced
infrastructure and government thrust.” ...
AGRICULTURE
The agriculture industry has witnessed a dramatic
change over the past few years. A major factor
influencing this change has been the availability
of agriculture equipment at reasonable prices,
which makes them affordable for small farmers
with restricted access to modern equipment,
stated a report by IMARC Group, titled ‘Indian
Agricultural Equipment Market: Industry Trends,
Share, Size, Growth, Opportunity and Forecast
2018-2023’...
ELECTRIC VEHICLES
The need to reduce carbon footprint has prompted the
automotive industry to manufacture Electric Vehicles
(EVs). Industry experts forecast that EVs will most likely
dominate the automotive landscape in the coming years.
Compared to vehicles that run on diesel or petrol...
MEDICAL EQUIPMENT
The COVID-19 pandemic has created an unprecedented
increase in demand for medical devices. “There is a huge gap
in the current demand and supply of medical devices in India
and this provides a significant opportunity for manufacturing
devices in India. At present, many medical device manufacturers
(domestic and international) are chasing this massive under
penetration of medical devices in India as a significant growth
opportunity,” ...
RAILWAYS
The Indian Railways is among the largest rail networks in the
world. “The Government of India has focused on investing in
railway infrastructure by making investor-friendly policies.
It has moved quickly to enable Foreign Direct Investment
(FDI) in railways to improve infrastructure for freight and
high-speed trains. At present, several domestic and foreign
companies are also looking to invest in Indian rail projects,”
stated a report by the India Brand Equity Foundation. ...
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| Tool Talk
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‘Toolmakers must embrace Additive
Manufacturing technology’
“It is going to be a great addition
to their existing services, which will
enhance their productivity. It may also
increase their tools’ life. This, in turn,
will help them make more tools,” says
Dr. Dheepa Srinivasan, Chief Engineer,
Pratt and Whitney R&D Center.
Read More
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| Leaders Speak |
‘We need to have policies in place in order to
uplift the Indian tooling industry’
“Currently, the costs of land and initial setup are
high. Additionally, the interest rates are high too.
So, those who wish to take a loan to start their tool
room business are discouraged from doing so as
all these factors deter them,” says Abhijeet Raut,
Director, Abhijeet Group.
Read More
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‘A host of other industries are growing
rapidly in India’
“Consumer appliances is one market that I feel will
generate huge opportunities for toolmakers. We
can also look at medical appliances’ parts, which
are mostly imported. Aerospace and defence are
two other promising sectors. We must keep an
eye on these developments and develop our skills
accordingly,” says Guruprasad Puranmath, Director
– Technical, Mutual Industries.
Read More
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| Report |
YoY GDP expansion forecast
at deceptively high 20.0% in
Q1 FY2022: ICRA
Economic activity boosted by robust government capex, merchandise exports, demand from
farm sector. Low base of nationwide lockdown conceals impact of second wave of COVID-19,
according to ICRA
Read More
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| Survey |
‘Outlook for Q-2 manufacturing
rises significantly’
FICCI’s Manufacturing Survey states a higher percentage of respondents
reported increased production. A higher percentage of respondents also
reported rising cost, indicating that the cost of doing business has gone up too.
Read More
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| Techno Focus |
Everything you need to
know about overmolding
Overmolding is an injection molding process used in many industrial capabilities.
It is an integral part of prototyping and custom production, where it is essential in
the overlay of plastics (plastic overmolding) and metals. In this article, you will get
to know more about the overmolding process.
Read More
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| Industry Updates |
- Boost stability and tool life with optimized solid end mills
- WIDIA introduces M1600 face milling platform suitable for variety of
machine conditions and set ups
- Hexagon software connects insights from planning, quotation, and
sheet-metal manufacturing
- FARO® launches all-new Max FaroArm with Multiple Laser Line Probes
- ‘IBSA forum provides hand-holding support to MSMEs through capacity
building trainings, exchange of best practices and technologies’
- HAL, Rolls-Royce sign pact for ‘Make in India’ Adour engine parts for
global markets
- ‘Government will support establishing semiconductor industry in India’
- Tata Motors delivers 35 state-of-the-art electric buses to BEST, as a part
of the larger order of 340 e-buses
Read More
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