India: Growth of the machine tool industry
Machine tool exports from India reached about 55.3 million dollars during FY17 (Fiscal year 2017), according to P Ramadas, President of IMTMA. He further mentions that Indian machines are price competitive in their range thus making them suitable for exports. Some of the Indian machine tool players are also exporting to Germany, Turkey, China, Middle East, Russia, South Korea, etc.
The future of the Indian machine tool industry is poised for growth and at the moment is very bullish as far as the metal cutting industry is concerned.
Global players can get updated on the latest industry happenings of the Indian machine tool sector by attending the Asian Machine Tool Exhibition which is scheduled to be held from July 06–09, 2018 in New Delhi, India. The event will showcase the most recent technologies in the sector and at the same time is expected to act as a meeting point for business interactions.