Machine tool industry flat in FY'09

Despite the current global recession, the Indian machine tool industry hopes to generate business enquiries worth Rs 6,000 crore at the forthcoming Indian machine tool exhibition, IMTEX 2009 scheduled to be held here from January 22 to 28. The Indian Machine Tool Manufacturers’ Association (IMTMA), which is organising this mega event for the second time in Bangalore and 14th time in all, believes that the economic revival will happen sometime middle of this year.

“The machine tool industry will survive this phase with the government and the industry taking policy changing decisions and corrective measures with the larger picture of the industry in focus,” N K Dhand, President, IMTMA said.

He told reporters, here today, the machine tool industry will survive and grow despite a 5 per cent cancellation in orders from the prospective customers in the automobile and auto components sector. The industry, which had been growing at an average 30 per cent over the last five years, is likely to remain flat during the current financial year, he said.

The machine tool industry registered a turnover of Rs 7,600 crore in 2007-08, about 22 per cent over the previous year. Of this, metalworking machine tools is Rs 2,100 crore, accessories for mac-hine tools is Rs 1,500 crore and the remaining Rs 4,000 crore is from cutting tools and tooling systems. The industry size including unorganised players could be of the order of Rs 17,000 crore.

IMTEX 2009 is billed as largest exhibition of machine tools and manufacturing solutions in South & South East Asia. It is being held at Bangalore International Exhibition Centre (BIEC) on Tumkur Road. IMTMA is also holding as a concurrent fair, Tooltech 2009 — the 11th international exhibition of cutting tools and tooling technology systems.

This apex b2b event will feature the most modern metal-cutting machine tools and manufacturing solutions from across the globe, IMTEX 2009 and Tooltech 2009 seeks to reactivate the industry enthusiasm and reinforce the feel good factor against all odds of the market slowdown.

Shailesh Sheth, media chairman, IMTMA, said IMTEX and Tooltech will showcase the new-found confidence of the Indian Machine Tool industry in taking on new challenges amidst the changing market environment. The exhibition will display break through ‘live’ machine tools and manufacturing solutions from all the world’s best known brands in this product segment.

Spread across 40,000 square metres, the exhibition features 900 exhibitions, including half from overseas representing over 25 countries. Key highlight of the exhibition are seven country group participation from China, Czech Republic, Germany, Italy, Korea, Spain and Taiwan. Other major countries represented at IMTEX and Tooltech 2009 include Austria, Holland, Belgium, Israel, Switzerland, Canada, Japan, Thailand, The Netherlands, Finland, Romania, Turkey, France, Russia, United Kingdom, Singapore and United States of America.

Besides, over 95 per cent of Indian metal cutting machine tool industry will be represented at IMTEX 2009 and Tooltech 2009. The total value of exhibits at IMTEX 2009 is a record of Rs 350 crore.