The Indian Machine Tool Manufacturers’ Association (IMTMA) has projected a 2.3 times growth in the demand for the machine tool industry to touch a level of Rs 23,700 crore by end of the 12th five year plan. For the year 2010-11, the industry witnessed a demand of Rs 10,300 crore, showing a growth of 28.7 per cent over Rs 8,000 crore recorded in 2009-10.
It also expects the Indian machine tool turnover to substantially increase from Rs 3,600 crore at present to about Rs 13,900 crore by 2016-2017, with an assumption of a growth rate of 25 per cent compounded annual growth rate (CAGR). During the current fiscal, the industry is likely to grow by 25 per cent.
Machine tools are power-driven equipment used for drilling, milling, grinding or shaping of a piece of metal used in any industry.
Making this disclosure at the 65th Annual Session of IMTMA, its President, M Lokeswara Rao pointed out that achievement of this domestic turnover will also enhance the market share of the Indian machine tool industry to 50 per cent by 2016-2017, as against 35 per cent in 2010-2011.
He also mentioned that the major emphasis of the industry in the 12th Five-Year Plan would be on technology. Some of the major parameters to be achieved in the 12th-Five Year Plan include development of high precision machine tools; multiaxes, multi-function machines; heavy duty machine tools; metal-forming machines of various types; critical mechanical elements; machine tool electronics and other sub-systems; as well as software for design / analysis / simulation, machining and manufacture. These are technologies where the industry considerably lags at present.
The other key stress will be on skill development and workforce enhancement. The Indian machine tool industry currently has a direct employment of 30,000 workforce, which is estimated to double by 2016-2017, he added.
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Rao urged the industry to give greater emphasise on expanding capacities; focus on innovation, design and new product development; working towards bridging technology gaps; taking measures towards skill enhancement and workforce development.
On this occasion, he announced a partnership between IMTMA and the National Skills Development Corporation to formulate “Sector Skills Council for Machine Tool Industry”. The Councils’ primary function is to project sector specific skill shortage, and address other key issues affecting manpower requirements.
IMTMA Executive Committee — the apex board of the Association, unanimously elected Vikram Sirur, Executive Chairman, Miven Machine Tools Limited, Hubli as President of IMTMA and L Krishnan, Managing Director, TaeguTec India Private Limited as Vice President of IMTMA for the year 2011 - 2012.