AMTEX 2016 projects 5.5% an­nual growth rate for ma­chine tools

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The Asian Ma­chine Tool Ex­hi­bi­tion, AMTEX 2016, the 11th edi­tion of the ma­chine tools ex­hi­bi­tion at Pra­gati Maidan, New Delhi, show­cased a wide range of ma­chine tools, ma­chiner­ies and al­lied prod­ucts with pri­mary fo­cus on au­to­mo­tive, power & elec­tri­cal equip­ment, tex­tile ma­chin­ery and con­sumer goods in­dus­tries.

Ex­perts from the ma­chine tools and man­u­fac­tur­ing in­dus­try in In­dia and from China, Ger­many, Ja­pan, Korea, Sin­ga­pore, Tai­wan and Turkey par­tic­i­pated in the four-day event dur­ing July 8-11, 2016. The to­tal ma­chine tools mar­ket is es­ti­mated to be $181 bil­lion by the end of the cur­rent three-year pe­riod. In­dus­try ex­perts es­ti­mate In­dia to stand 14th in pro­duc­tion and 10th in con­sump­tion of ma­chine tools in the world.

The fore­cast for the global ma­chine tool mar­ket is 5.5% an­nual growth rate through 2019, driven par­tic­u­larly by ex­pand­ing de­mand in China and other de­vel­op­ing na­tions. In­dia is all set to ex­pand its reach to the global mar­ket to be­come a key player in the global ma­chine tools in­dus­try.

On the side­lines of the event, Frost & Sul­li­van un­veiled its ex­clu­sive white pa­per themed, `Smart & Sus­tain­able Man­u­fac­tur­ing - Chang­ing Era of In­dian Man­u­fac­tur­ing’, in part­ner­ship with AMTEX fol­lowed by a se­ries of con­fer­ence ses­sions led by the crème de la crème of the in­dus­try.

There are about 700 ma­chine tool man­u­fac­tur­ers in In­dia of which the top 25 play­ers con­trib­ute a 70% share. The de­mand is grow­ing at CAGR 15% an­nu­ally of which about 60% of the de­mand is met by im­ports. Do­mes­tic pro­duc­tion has shown a strong growth of 24.1% in FY 2014-15 over FY 2013-14.

Cyril Pereira, Man­ag­ing Di­rec­tor, Reed Tri­une Ex­hi­bi­tions Pvt. Ltd, said that, “AMTEX 2016 acted as the seam­less plat­form for ex­hibitors bring­ing busi­ness op­por­tu­ni­ties, world­class tech­nolo­gies and en­thu­si­as­tic par­tic­i­pants from across the globe to present new tech­nolo­gies, to en­hance pro­duc­tiv­ity and to pro­duce/man­u­fac­ture and in­vest in In­dia.”

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