Toolmaking in India Die Mould India 2024 sets the stage for innovation and collaboration

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Tool and Gauge Manufacturers Association (TAGMA)

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Die & Mould India 2024, held from February 14th in Mumbai, brought together over 300 exhibitors to showcase the latest advancements in the die and mould industry. Industry leaders highlight the sector's growth, the shift towards indigenous manufacturing, and the urgent need for skill development to meet global demands.

The Die & Mould India Exhibition 2024 opened its doors on February 14 at the Bombay Exhibition Centre in Goregaon, Mumbai. Organized by the Tool & Gauge Manufacturers Association of India (Tagma), this four-day event is set to highlight the latest technological advancements in the die and mould industry. The exhibition aims to address both opportunities and challenges within the sector, offering a learning platform for toolmakers from the user industry.

The opening ceremony saw the participation of notable figures, including Mr. Sachin Kulkarni, Executive Director — Corporate Procurement & Member of Board, Skoda Auto Volkswagen India Pvt. Ltd., a Jim Walsh, Vice President — Tooling, Tata Electronics. They were joined by D. M. Sheregar, President of Tagma India, and D. Shanmugasundaram, Vice President of Tagma India, among other dignitaries. The event began with the traditional lighting of the lamp.

In his welcome address, Sheregar emphasized the growth and potential of the Indian toolmaking sector, which has seen significant advancements over the past two years. He highlighted the industry's current market size of approximately INR 23,600 crore but also pointed out the reliance on imports for about 34 percent of tooling demand. Sheregar stressed the importance of reducing this dependency and called for collective efforts to improve and promote indigenous manufacturing and innovation.

Walsh shed light on India’s matured automotive sector and the burgeoning electronic sector, emphasising the need for a focused approach. He said: “India’s Electronic Manufacturing Services (EMS) industry is growing rapidly and the companies are on the lookout for vendors. The geopolitical shifts are driving EMS to Southeast Asia and India. The world is looking towards India with hope. Companies moving their operations to India have four key expectations — speed, accuracy, innovation, and capacity. Sadly, Indian toolmakers are still unprepared to cater to the kinds of demands they have. I urge Indian toolmakers to rise to the occasion and focus on skill development for their employees, enhance the capacity of their shop floor, focus on manufacturing accuracy and meet delivery time lines, among other aspects. India needs to seize the opportunity and bridge the existing gap.”

Shanmugasundaram delved into some of the trends shaping the industry. He said: “The tooling industry is diversifying beyond the automotive sector into emerging industries such as toy making, consumer durables, and aerospace, defence, and space. These sectors present lucrative opportunities for expansion and risk mitigation. The pandemic highlighted the importance of digital solutions, leading tooling companies to adopt advanced technologies for enhanced efficiency and productivity. Besides, with global customers demanding high precision and fast turnaround, the adoption of cutting-edge technologies is imperative for Indian companies to remain competitive. Also, to meet the evolving customer demands, continuous skill development is essential for tooling professionals to stay updated with the latest technologies and practices.”

Shanmugasundaram urged: “Together, let us navigate these trends, capitalise on opportunities, and collectively contribute to the growth and evolution of the tooling industry in India.”

The 2024 edition of the Die & Mould India exhibition featured over 300 exhibitors spanning 25,000 square meters and representing 12+ countries. Each exhibitor showcased the latest advancements in the tooling industry. With expectations of attracting over 35,000 visitors throughout the four-day event, Die Mould India 2024 promises to be a significant gathering for industry professionals.

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