Industry meeting India: Manufacturing trends

The Indian Machine Tool Manufacturers’ Association (IMTMA) recently held its 71st Annual General Meeting in Bengaluru where they spoke about the impact of electric vehicles on the machine tool industry.

At the Executive Committee meeting following the AGM, P Ramadas, Managing Director, Ace Manufacturing Systems was elected as the President of IMTMA and Indradev Babu, Managing Director, UCAM was elected as the Vice President of the Association for the year 2017- 2018.

Prior to the AGM, IMTMA held a special session. Dr. S Raghunath, Professor of Corporate Strategy & Policy, Indian Institute of Management Bangalore made a presentation on ‘Preparing for Transformation in Manufacturing Industries – Electric Vehicles Impact on the Machine Tool Industry’ and Shailesh Sheth, Past President - IMTMA made a presentation on ‘IMTMA Corporate Governance Policies’. PG. Jadeja, President - IMTMA and V Anbu, Director General & CEO - IMTMA were present on the dais.

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Dr. Raghunath presented his view on the impact of electric vehicles on the machine tool industry and the need for industry to integrate latest robotics technology in managing issues related to transportation.

Delivering his annual address at the AGM, PG Jadeja briefly spoke about the positive signs emerging in the Indian economy and the Government of India’s impetus to manufacturing. Jadeja said that the machine tool industry of India registered an impressive growth of 23 per cent during 2016 - 2017.

He also spoke about major policy initiatives of the Government of India such as Goods and Services Tax, Automotive Mission Plan 2026 and setting-up of Centres of Excellence on advanced manufacturing under the DHI Scheme for Enhancement of Competitiveness in the Capital Goods Industry as well as Tumakuru Machine Tool Park jointly by DHI and the Government of Karnataka. He said that these developments are likely to change the manufacturing landscape in future.

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India: Goods and Services Tax for one market

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