Siemens today announced launch of operations at the Technology & Application Center (TAC) here-- the first such facility for machine tool industry to be set up in India by the company.
The facility will enable machine tool manufacturers and end users to improve productivity through testing machining techniques in real-world conditions, Siemens said.
TAC will allow Indian machine tool manufacturers and users get a hands-on experience of the latest CNC technologies and solutions from Siemens and its partners, the company said in a release.
TAC will also organise knowledge sharing programmes, provide application support and training to customers and educational institutes among many other initiatives, it said.
The center also houses Siemens Financial Services, an international provider of business-to-business financial solutions, the release said.
Siemens TAC, like other six Siemens TACs across the world, will function as a knowledge hub for cutting edge technology, "as our customers and partners embrace newer machine processes and equipments," Joachim Zoll, Global Head of Machine Tools business segment, Siemens, said.
According to Indian Machine Tool Manufacturer's Association (IMTMA), the current market size of the machine tool industry stands at USD 2,050 million (around Rs 12,300 crore) of which the domestic production makes for only around 33 per cent of the total consumption.
