As of 2023, India’s manufacturing sector employs nearly 36 million people. This is no surprise considering that manufacturing production in India jumped 9.3% year-on-year in August 2023, up from 4.6% growth in the previous month. As another year draws to a close, Sunil Joshi, President of Sales, India for metal cutting specialist Sandvik Coromant, reflects on India’s achievements in 2023, as well as its own.
A YEAR OF SUCCESS.
India has seen some significant achievements this year, especially within the aerospace sector. For many years, the United States and China have dominated the global aerospace market, but now India is demonstrating significant presence within the sector.
In August 2023, India became the first country to successfully land on the south pole of the moon, with the Chandrayaan – 3 spacecraft touching down on 23 August after a 40-day journey. Not only was it the first country to make it to the south pole of the moon in one piece, it marks India as the fourth country ever to visit the moon. Following this achievement, India is already planning its next ambitious goals — building an Earthorbiting space station by 2035 and putting an astronaut on the moon’s surface by 2040.
Elsewhere, the nation is showing progress in the electric vehicle (EV) market too. Firstly, India has set a bold objective to elevate the adoption of EVs. By 2030, the country aims to reach a 30% market share for EVs in private cars, 70% in commercial vehicles, 40% in buses, and 80% in two-wheelers and threewheelers. This translates to an estimated total of 80 million EVs on the roads.
Striving towards this, by September 2023, there had already been more than 1 million electric vehicle sales in India — a milestone that took the entirity of 2022 to reach. And automakers are taking notice. Tesla founder Elon Musk is said to have his eye on the India market, reportedly stating that Tesla will be in India “as soon as humanly possible”after meeting with Indian Prime Minister Narenda Modi in autumn this year.
STRIVING FOR A SUSTAINABLE SECTOR.
Reflecting on the year, 2023 has also seen a number of large achievements for Sandvik Coromant. While we have long recogni sed the impact that the manufacturing and production sector has on global carbon emissions, 2023 has seen more effort in tackling sustainability issues than ever before. In September, our net-zero target was officially validated by the Science Based Targets initiative (SBTi). This initiative provides guidance on emissions reduction and net-zero targets in line with climate science, aligning with the objectives of the Paris Agreement and the United Nations Sustainable Development Goals (SDGs).
Sandvik Coromant is fully dedicated to achieving net-zero emissions. This involves implementing strategies to reduce emissions and mitigate the environmental impact of our operations. In line with SBTi guidance, the company has categorised greenhouse gas emissions into three scopes. By 2035, Sandvik Coromant aims to achieve net-zero for scopes one and two, which involve emissions directly from operations and those indirectly from heating and power. For scope three emissions, which include activities outside of our facilities like raw material production and supplier network emissions, the target is to achieve net-zero by 2050.Secondly, Sandvik Coromant is working to become more than 90% circular by 2030. By adopting innovative approaches and technologies, we aim to optimise resource usage and minimise waste throughout our value chain. Our buy-back scheme for recycling used carbide tools forms an important part of this circularity strategy. The company’s third goal relates directly to people, with a pledge for women to make up a third of Sandvik Coromant’s management team by 2030.
Besides these targets, we have taken numerous positive steps towards creating a manufacturing space that is both responsible and sustainable by working on various projects in India throughout 2023. This includes the inauguration of the fourth wastewater treatment plant in Pune in March 2023, facilitated in collaboration with Pimpri-Chinchwad Municipal Corporation (PCMC). The wastewater treatment plants are significant because they recycle thousands of litres of water per day that runs throughout the industrial city.
MANUFACTURING WELLNESS.
In September 2023, Sandvik Coromant took on a new identify and coined the term Manufacturing Wellness. With this new identity, we aim to cultivate a culture of healthy manufacturing practices while fostering the growth of sustainable enterprises.
Our new brand identify focuses on nurturing eight manufacturing habits. The first is taking a holistic approach by focussing on the most impactful steps and eliminating constraints to pave the way for success. Embrace new technology encourages the openness to the quick adoption of new developments in machining, digitalisation and tooling technology. A no brainer, the third habit is to choose a sustainable path by taking a lead in sustainable manufacturing.
Going hand in hand with choosing a sustainable path is the next habit — to eliminate waste. A key element in efficient and sustainable manufacturing is to eliminate anything that does not add value or contribute to the output. The fifth habit, unlocking potential with data, leans on the use of data to increase transparency, identify improvements, make the right decisions and accelerate productivity from CAD to delivery. Next, Sandvik Coromant recognises that success is more achievable when we lean on each other for wisdom and knowledge and there is power in partnerships.
The seventh habit developed focuses on developing your people. Elevating your business depends on the ability to attract, develop and retain talented people who want to make a difference, which is why focussing on employees is crucial. Lastly, Manufacturing Wellness will highlight the need to automate for success and understand the impact automation has on cutting costs, increasing quality and accelerating success. From aerospace to electric vehicles, India has thrived in 2023, but that doesn’t mean it’s time to slow down. As 2024 rolls in, manufacturing companies must assess how they can make positive changes that will contribute to a healthier and more productive manufacturing space. As we enter 2024 with a new brand, Sandvik Coromant will continue driving its vision for the manufacturing sector to help shape the future for our people, partners and customers.
SANDVIK COROMANT.
Together with our customers and partners, Sandvik Coromant leads the way toward a sustainable future, supplying tooling solutions to the world’s engineering industries. Over eight decades of hands-on experience have given us a wealth of knowledge in metal-cutting and machining. This expertise transforms every challenge into an opportunity for innovation, collaboration, and progressive solutions. We aim to create positive change by promoting sustainability, efficiency, and growth to shape a future where innovation thrives. Part of global industrial engineering group Sandvik, Sandvik Coromant is shaping the future together.
For more information visit www.sandvik.coromant.com
