By the Members, of the Members & for the Members
The first-ever ‘Tool Talk’ organised by TAGMA, powered by TAGMA TIMES was held on 30th April 2021. The Guest speaker for the event was Mr. Ashim Sharma - Partner & Group Head, Business Performance Improvement Consulting (Auto, Engineering & Logistics), Nomura Research Institute (NRI) Consulting & Solutions India Pvt. Ltd), shared the insightful
Link to the discussion video is https://youtu.be/zsAd8pqgKgU
The detailed analysis on Indian Tooling Industry [January 2020] is available in the form of report, which is available at a cost. Kindly write back to us for a copy of the same.
Listing here some of the outcomes of the discussion
- The Indian industry’s market size is close to Rs 18,000 crore with ~70% of demand being met domestically and ~30% from imports.
- Non-automotive sectors are meeting a large part of their tooling demand from imports
- Lack of skilled workforce, high financing cost, lack of outsourcing ecosystem, and inverted duty structure are some of the major challenges faced by the Indian Tool Rooms.
- Quality, cost, and delivery time are some of the major expectations from the user industry w.r.t the procurement of the tools.
- Most of the major global auto manufacturing countries have a strong domestic tooling industry with India being an exception, as a significant part of tool demand is still met via imports.
- Tool makers in countries such as China, S Korea and Taiwan get immense government support in terms of tax incentives, low-interest financing, creation of tooling clusters, dedicated R&D centres.
- Indian tool rooms have huge opportunities going forward and companies are taking necessary steps to grab the opportunities.
- OEM’s perception of Indian tool rooms is slowly changing, and they are willing to trust Indian tool room’s more than before.
- It’s very important for India to develop Tooling SEZs/Clusters close to automotive/manufacturing hubs for close collaboration & reduction in the lead time.
- Medical, white goods, defence are some of the emerging sectors that will create good demands for tools in India.
Link to the discussion video is https://youtu.be/zsAd8pqgKgU
The detailed analysis on Indian Tooling Industry [January 2020] is available in the form of report, which is available at a cost. Kindly write back to us for a copy of the same.
