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MACHINIST - Indian Machine tool makers target 67% domestic market share by 2020: IMTMA

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Indian Machine tool makers target 67% domestic market share by 2020: IMTMA
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Written by Arjun   
Tuesday, 25 January 2011

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Bangalore: The Indian Machine Tool Manufacturers Association (IMTMA), an apex body of the Indian machine tool sector, has set a target to achieve a 50 percent domestic market share by 2015, from the current 25 percent domestic market share.  With the closing of significant technology gaps and promotion of manufacturing competitiveness, this is expected to reach 67 percent by 2020.

IMTMA is working with the government to ensure that these targets are met, said C P Rangachar, former president of IMTMA, while outlining the Roadmap for the Indian Machine Tool Industry 2010 - 2020.

Jamshyd N Godrej, chairman - exhibitions, Indian Machine Tool Manufacturers' Association (IMTMA) said that due to capacity constraints the machine tool sector was unable to meet the demands. He said that the machine tool industry needs to get access cheaper funds so that they can expand capacities rapidly.

The industry has asked the government for a Rs 2000 crore Corpus fund for capacity building. It has requested the designation of the machine tool sector as a priority sector for landing by banks/FIs and the provision of concessional interest rates for SMEs.

It has also asked for a reduction in excise duty to 8 percent or less, removal of customs duty for critical inputs, higher depreciation at 25 percent and excise duty exemption for SMEs.

A pre-budget memorandum in this regard has been submitted to the  finance ministry.

To enable the machine tool industry to develop indigenous technology, the industry has asked for the adoption of the 'Development contract' mechanism by the public sector units, as a route to technology development. It has suggested that at least 30 percent of future requirements be met this way. The industry has also asked to be offered the same government tender terms as for imports including letter of credit, exchange rate variation and Progressive payment(on merits).

It has also asked for the exclusion of machine tools from free trade agreements and mandating local value addition on large imports (>Rs. 10 crore).

Used machine tool imports


To counter the threat posed by used machine tool imports, it has asked the government to designate ports of entry so that the necessary evaluation expertise can be ensured, to levy customs duty at 30 percent and disallow depreciation.

Skill development

In order to develop the skills necessary for the sector , it has asked for the upgradation of ITIs, inclusion of machine tool courses and streams in engineering colleges and IITs and setting up of greenfield training centers.

Currently the Indian machine tool industry contributes to less the 0.5 percent of the world production. By 2015 this is expected to be doubled and by 2020 the industry has targeted 2 to 3 percent of the world production. By 2020, it also aims to have 20 percent exports compared to the negligible exports now.

 
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