Let me begin by saying that I am a proud toolmaker. I come from the industry that forms the manufacturing sector’s backbone. The tooling industry is often referred to as the mother industry because tools, dies, and moulds are the building blocks for manufacturing industries without which the dream of building world-class products would be far from fulfilled.
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At a time when the pandemic has thrown the global economy out of gear, toolmakers in India have been struggling to stay afloat. On November 27 and 28, 2020, TAGMA organised the first-ever Virtual International Tooling Summit to help toolmakers find their way through these challenging times. Honourable Union Minister Shri. Nitin Gadkari; Mr MSR Prasad, Distinguished Scientist & Director General - Missiles and Strategic Systems (MSS), DRDO; and several other prominent personalities of the tooling world graced the twoday event. They offered insights about the tooling industry, which were very well received by the 500+ professionals, who marked their presence virtually. This event turned out to be an eye-opener that guided toolmakers to find opportunity in adversity
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“Sectors like packaging, medical appliances, defence, aerospace, railways, mobile manufacturing and the electronics industry, offer high potential, which is yet to be tapped. It is high time the tooling industry enhances its capacity to meet the growing demand from these sectors, - says Amit Kumar Parashar, Sr Vice President - Operations (Tool Room, Central Quality, Service & QS) Subros Ltd.
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Medical equipment, aerospace, defence, railways, real estate (changing need for interiors) and packaging industry can create additional business opportunities for toolmakers. However, to promote such business, we need to create a strong platform where toolmakers can get to understand the needs of these segments and prepare accordingly, - says Martin Pinto, Executive Director, Shapers India.
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When embarking on their digitalisation / IIoT course, machine and plant manufacturers are often unsure of how to approach things, which steps come first, which can wait and which may be entirely superfluous. This article sums up the current experiences of mechanical engineering customers of the HARTING Technology Group and shows how this important but also tremendously multifaceted topic can be mastered.
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Before launching a new product, companies usually take into consideration the product’s price, the costs involved and the margins they plan to achieve. Target costing helps a company plan for all of this in advance. CMA A.N. Raman explains how target costing, as a cost management tool, can be a panacea for the tooling industry.
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• Digital infrastructure far more critical than physical; going digital is the way forward
• ‘Time to take bold actions and push the growth agenda vigorously
• FICCI statement on Q2 GDP numbers
• Indian Railways working to achieve objective of Atmanirbhar Bharat in a big way: Railway Board chairman
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