How do you see the present state of Indian tooling industry?
The present state of the Indian tooling industry is quite promising, characterized by a positive sentiment among toolmakers who are keen on expanding their capacity to meet the growing demand. This optimism is fueled by several factors contributing to the industry’s buoyancy. Firstly, there has been a notable uptick in Indian purchasing power, coupled with encouraging results from the Purchasing Managers’ Index (PMI), indicating robust manufacturing activity. Moreover, the consistent breaking of records in GST collection and the overall high manufacturing output further bolster confidence within the sector.
On a global scale, the tool room industry witnessed significant growth, reaching USD 80 billion in 2021 post-COVID-19. In India, the estimated market size of the tool room industry stands at approximately INR 23,600 crore. However, it is noteworthy that around 34% of the tooling demand in India is currently met through imports, with a significant portion originating from countries like China, South Korea, Japan, and Taiwan. Despite this, India has seen a commendable growth trajectory in tooling exports, accounting for about 15% of total production. Major export destinations include the USA, Spain, Mexico, and Germany.
Commercial Tool Rooms (CTRs) have emerged as significant contributors to meeting the growing demand, with a growth rate of approximately 8.1%. Additionally, Captive Tool Rooms have also experienced steady growth, albeit at a slightly lower rate of around 1.5%. However, the import sector has witnessed minimal changes, remaining relatively stagnant in recent times.
Overall, while the Indian tooling industry demonstrates strong potential and positive growth indicators, there remains room for further development, particularly in reducing dependency on imports and enhancing domestic production capabilities to cater to both domestic and international markets effectively.
What are the challenges in front of the toolmakers?
The challenges faced by toolmakers in the current landscape are multifaceted, encompassing various aspects that pose hurdles to their operations and growth prospects. Firstly, the issue of high imports looms large over the industry, leading to increased dependency on foreign markets for crucial tools and materials. This not only affects the profitability of toolmakers but also hampers the goal of achieving self-sufficiency and promoting domestic manufacturing.
Finding skilled manpower emerges as another significant challenge for toolmakers. The specialized nature of tooling operations necessitates a skilled workforce proficient in intricate manufacturing processes. However, the availability of such skilled personnel remains limited, posing a constraint on the industry’s expansion and innovation capabilities.
Additionally, the availability of finance presents a considerable obstacle for toolmakers, especially smaller enterprises. Access to adequate funding is crucial for investing in modern technologies, upgrading infrastructure, and expanding production capacities. However, the stringent lending norms and limited availability of financial resources often hinder the growth aspirations of toolmakers.
Furthermore, the unavailability of certain high-end machines and raw materials domestically poses a significant challenge for toolmakers. Dependence on imports for specialized equipment and materials not only adds to costs but also introduces uncertainties related to supply chain disruptions and quality control.
In essence, addressing these challenges requires a concerted effort from industry stakeholders, policymakers, and educational institutions to promote indigenous manufacturing, invest in skill development initiatives, streamline access to finance, and foster a conducive business environment for toolmakers to thrive and innovate in the competitive landscape.
What are the emerging sectors for the Indian die mould industry?
The Indian die mould industry is witnessing a notable shift in demand dynamics, with emerging sectors poised to become significant consumers of tool and die products alongside the traditional automotive sector. While automotive manufacturing remains a cornerstone of the industry and is expected to maintain its prominence in the coming years, several other sectors are emerging as promising avenues for growth and diversification.
Industries such as aerospace, defense, railways, and electronics are witnessing a surge in demand for specialized tool and die solutions. The stringent quality requirements and precision engineering standards inherent in these sectors make them lucrative markets for die mould manufacturers. Additionally, the burgeoning electronics industry, driven by advancements in technology and increasing consumer demand for electronic devices, presents ample opportunities for tool and die manufacturers to cater to the production needs of electronic components.
Furthermore, sectors like toymaking, packaging, and consumer goods are also emerging as significant contributors to the demand for die mould products. The growing emphasis on customization, sustainability, and innovation in these sectors necessitates the development of specialized tooling solutions to meet evolving consumer preferences and market trends.
In summary, while automotive manufacturing remains a dominant force in driving demand for tool and die products, the Indian die mould industry is witnessing a diversification of its customer base. Emerging sectors such as aerospace, defense, railways, electronics, toymaking, packaging, and consumer goods are poised to play pivotal roles in shaping the future growth trajectory of the industry, presenting new opportunities for manufacturers to expand their market presence and capitalize on evolving market trends.
How TAGMA helps Indian die mould industry?
TAGMA (Tool and Gauge Manufacturers Association) plays a crucial role in supporting and advancing the Indian die mould industry through various initiatives and advocacy efforts. Here’s how TAGMA contributes to the industry’s growth and development:
- Representation and Advocacy: TAGMA serves as a unified voice for the Indian tooling industry, representing the interests of its members in front of the government and other stakeholders. By advocating for favorable policies and regulations, TAGMA aims to create an enabling environment for the growth and sustainability of the tooling sector.
- Training and Knowledge Sharing: TAGMA is committed to promoting training and the dissemination of knowledge related to standards in the manufacture of tools and gauges. Through various training programs, workshops, and seminars, TAGMA provides valuable learning opportunities for industry professionals, thereby enhancing their skills and expertise.
- Facilitating Industry Improvements: TAGMA endeavors to encourage improvements in tool room industries to enhance efficiency and competitiveness. By fostering a culture of continuous improvement and innovation, TAGMA contributes to the overall growth and development of the tooling sector in India.
- Organizing Seminars and Exhibitions: TAGMA organizes relevant seminars, workshops, exhibitions, and other events to impart useful knowledge and information to tool and gauge manufacturers. These platforms serve as opportunities for networking, learning about the latest industry trends, and showcasing innovations and best practices.
- Chapter Network: TAGMA operates through its network of chapters across India, including locations such as Bangalore, Chennai, Mumbai, Pune, and Hyderabad. This widespread presence allows TAGMA to reach a diverse range of industry stakeholders and effectively address their needs and concerns.
In summary, TAGMA plays a pivotal role in supporting the Indian die mould industry by serving as a forum for industry collaboration, promoting training and knowledge sharing, advocating for favorable policies, facilitating industry improvements, and organizing relevant events and initiatives. Through its concerted efforts, TAGMA contributes to the growth, innovation, and competitiveness of the Indian tooling sector.
What are the key highlights of Die Mould India 2024.
The highlights of Die Mould India 2024 (DMI 2024) encompass a range of key features and offerings that make it a significant event for the tooling industry in India. Here are some of the highlights:
- Industry Showcase: DMI 2024 serves as a premier platform for showcasing the latest advancements, technologies, and innovations in the die and mould industry. Exhibitors from across India and around the world present their products, services, and solutions, providing attendees with valuable insights into the industry’s current trends and future directions.
- Networking Opportunities: The event offers ample opportunities for networking, collaboration, and knowledge sharing among industry professionals, stakeholders, and decision-makers. Attendees have the chance to connect with peers, experts, suppliers, and potential partners, fostering meaningful relationships and business connections.
- Technical Workshops and Seminars: DMI 2024 features a series of technical workshops, seminars, and educational sessions conducted by industry experts and thought leaders. These sessions cover a wide range of topics, including technology trends, best practices, case studies, and emerging opportunities, providing attendees with valuable insights and learning experiences.
- Product Launches and Demonstrations: The exhibition serves as a platform for product launches, demonstrations, and live showcases of cutting-edge technologies and solutions. Attendees have the opportunity to explore new products, evaluate their functionalities, and interact with industry experts to gain a deeper understanding of their capabilities.
This year we will have:
- Exhibitors: Over 300
- Expected Visitors: 35,000+
- Delegate Companies: Over 50
- Country Participation: 10+
- Visitor Demography: Automotive, Consumer goods, toy makers, aerospace, white goods, plastics, and packaging
- Exhibition Area: 25000 sqmt
In summary, Die Mould India 2024 is a comprehensive platform that brings together industry stakeholders, showcases the latest technologies and innovations, facilitates networking and collaboration, and provides valuable learning and business opportunities for attendees.
Visit: www.tagmaindia.org
