By the Members, of the Members & for the Members

Link to discussion video - Indian Tooling Industry – Trends, Challenges and Opportunity

The first-ever ‘Tool Talk’ organised by TAGMA, powered by TAGMA TIMES was held on 30th April 2021.

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

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.