Indian Machine Tools Industry is upgrading its production
Indian Machine Tools Industry is upgrading its production capabilities with global standards to align with PM’s vision to make India a manufacturing hub – Dr. Mahendra Nath Pandey, Hon’ble Cabinet Minister for Heavy Industries, Govt of India
PHD Chamber of Commerce and Industry, as Associate Partner along with K and D communications ltd. organised the 9th India Machine Tools Show.
Dr Mahendra Nath Pandey, the Hon’ble Cabinet Minister of Heavy Industries, Govt. of India, inaugurated the event , today at Pragati Maidan, New Delhi. The four day event being held at Pragati Maidan from 18th – 21st May, 2023, showcases India’s strength as a manufacturing hub through display of world class technology by various machine tools manufacturing industry.
Dr. Mahendra Nath Pandey, Hon’ble Cabinet Minister for Heavy Industries, Govt of India while addressing the event as a Chief Guest, said, India’s performance in the machine tool industry has been steadily improving over the years. India’s strengths in this industry include its highly skilled workforce, competitive manufacturing costs, and the government’s push for a strong manufacturing sector through initiatives such as Make in India and Atmanirbhar Bharat. He added, The 9th IMTOS is in the same lines of PM Modi’s vision of making India world’s 3rd largest economy by 2047 through such initiatives.
He further added the country is now recognized as a hub for manufacturing and exporting machine tools and informed about the recently introduced six-year PLI Scheme for IT hardware step taken by the Union Cabinet to boost hardware manufacturing in India and called it an excellent move towards making India a prime destination for IT hardware players.
According to Gardner World’ machine tool survey India’s ranks 8th position from earlier 11th position in the Machine tool Industry. We have 8 Excellence Centres set up pan India for research oriented works that includes 80% govt’s involvement through capital good schemes and 20% Involvement from the Industry. He further Invites Industry stakeholders to collaborate on this and experience the excellence centres. Concluding his note, the Hon’ble Minister further appreciated the PHD Chamber for its efforts toward Industry’s benefit.
Col Saurabh Sanya,l CEO & Secretary General, PHDCCI said, I would like to express my heartfelt appreciation to the individuals and organizations who have contributed to the success of the 9th India Machine Tools Show.
The collective efforts, everyone’s enthusiasm and commitment have made this event a truly memorable and impactful experience. Let us all ignite this momentum and cooperate more to realize the potential of machine tools industry and create a brighter future for all, added Col Sanyal
Mr. Ravinder Sethi, Co-Chair, Logistics Committee,PHDCCI, This show is a celebration of the remarkable advancements and achievements in the machine tool industry, and it serves as a platform to showcase the cutting-edge technologies, innovation, and expertise that define this sector.
As we embark on this exciting journey, let us remember that the machine tool industry plays a crucial role in shaping our economy and driving progress. It creates jobs, enables industrial growth, and fosters technological advancement. It is our responsibility to nurture and support this industry, to invest in research and development, and to create an environment that fosters innovation, entrepreneurship, and excellence, added Mr Sethi
Mr Gurjeet Singh Bhamber, Secretary General, Ludhiana Machine Tool Manufacturing Association, mentioned that Punjab holds a legacy through a 20 year old association that has been working towards the betterment of the Machine Tool Industry, since India’s independence. We are witnessing active participation through the exhibition of high level machinery tools. Over the past few years, India has consistently improved its ranking in the World Bank’s Ease of Doing Business index.
This has significantly boosted foreign investment inflow. He further informed, as the first machine tool center opened in Batala in 1947, and therefore urged the Hon’ble Minister to set-up a Machine tool center in Ludhiana to unfold the unearthed potential of the state.
Mr Ritesh Shah, CEO K and D communication ltd., said the theme of the global marketplace emphasizes the interconnectivity of economics and the importance of international partners. It encourages Indian machine tool manufacturers to actively engage with international participants, experience potential collaborations and establish mutually beneficial alliances.
The event was moderated by Mohit Luthra, Assistant Secretary General, PHDCCI.