 "Demand for machine tools on rise in many sectors: Industry official")
The demand for machine tools has been increasing among many industries including aerospace, defence, infrastructure, railways, and power, industry officials said here on Wednesday.
There has been a strong rebound in domestic production with annual growth rates, as per the index of industrial production (IIP) becoming positive in FY2021-22 after showing a negative growth due to the covid-19 outbreak.
The production in the industry has seen an estimated 40 per cent year-on-year growth in FY2021-22 while consumption recorded a 30 per cent rise in the same period.
Senior leaders of the industry led by Ambattur Industrial Estate Manufacturers Association (AIEMA) President T Nalangilli, ACMEE Chairman K Sai Sathya Kumar, ACMEE convenor P S Ramesh were here to announce the 15th edition of ACMEE 2023 scheduled to be held between June 15 to 19 in Chennai.
ACMEE stands for -- Automobile and Ancillaries, Consultancy and Services, Machinery and Machine Tools, Electrical and Electronics, Energy and Environment. AIEMA conducts the event focusing on exhibiting the latest in machine tool technology with a view to help industry modernize and promote investments.
"We are conducting ACMEE 2023 in a business climate that is bound to result in strong interest from industry. This exhibition will enable entrepreneurs to see the latest in machine tools and production technology from all over the world," ACMEE 2023 chairman K Sai Sathya Kumar said.
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Governor R N Ravi is scheduled to inaugurate the five-day event on June 15 in the presence of Daimler India Commercial Vehicle Managing Director and CEO Satyakam Arya, Schunk Intec India Pvt Ltd Managing Director Satish Sadasivan.
The objective of ACMEE 2023 is to provide an opportunity for industry to see the latest in machine tools and manufacturing technology from all over the world.
The theme for the event would be 'Smart Manufacturing' for the third consecutive time.
The latest edition of the theme would witness the setting up of a 'financial lounge' for the first time in which seven financial institutions would be available to transact business.
ACMEE 2023 convenor P S Ramesh said the event would have 435 participants and delegates from various countries including Belgium, Canada, China, Czech Republic were expected to take part.
"We also expect to generate business worth Rs 650 crore (during the event)," he said.