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Home arrow News arrow Business News arrow Auto sector to drive Indian Tool Industry says a study by Feedback Ventures
Auto sector to drive Indian Tool Industry says a study by Feedback Ventures Print E-mail
Written by Anand   
Tuesday, 26 February 2008
Indian tool room industry is expected to be around $2.5 billion

Bangalore: The auto & auto ancillary sector constitutes 50% of Die & Machine Tool market in India and is driving the industry says a study by Feedback Ventures. The study estimated the size of Indian tool room industry to be around $2.5 billion. The specifics of the study were revealed at the Diemould and Tooltech exhibition at BIEC, Bangalore.

Key Findings


    * Size of the Indian tool room industry is around 2.5 billion US Dollars

    * The industry grew above 60% in the past two years and will continue the momentum

    * Over 50% of this demand will emanate from the automotive and the auto components industry, while the balance will be from the electrical, consumer durable, electronics and packaging sectors.

    * The total tool room demand in India is expected to be met by domestic production accounting for 42 %, followed by imports accounting for 32 % and the balance from captive consumption (26 %).

    * The Indian tool room industry needs to focus on developing new technologies, harmonizing products with world standards as prescribed by the Federation of Asian Die & Mould Association (FADMA) and International Special Tooling & Machining Association (ISTMA).

    * The Indian tool room industry needs to focus on addressing the shortage of skilled manpower in the sector, as also on the need of establishing certification for skill levels of tool makers in India.

 
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