EMO 2017 One of the Fastest Growing Markets: India
The film industry is not the only big industry in India, the manufacturing sector is an important part of the economy as well. The EMO-India Day offered a chance to get to know more about this emerging market.
The India Day was a seminar organised by VDW, the German Machine Tool Builders' Association, and it was held yesterday in the Convention Centre of Hannover Messe. It seems like there is a strong interest in the Indian economy: More than 50 participants met at the half-day event. Experts from India and Germany offered an insight into the current situation of the Indian manufacturing sector.
As Shri N. Sivanand, Joint Secretary, Department of Heavy Industry, Ministry of Heavy Industry and Public Enterprises, stated in his opening speech: “India has emerged as a manufacturing hub.” According to him, the Indian manufacturing sector contributes 16 % of the Indian GDP.
India offers a strong base for future investments
According to V. Anbu, general director and CEO of the Indian Machine Tool Manufacturers' Association (IMTMA), this contribution is expected to grow even further in the next years. This is partly due to the “Make in India” initiative by the Indian government, which supports the industry in its efforts to modernise.
As Dr Andreas Wolf, Joint Managing Director of Bosch, noted, several improvements are required to increase the competitiveness of India in terms of productivity, quality and operational excellence.
The concluding panel discussion showed that Indian companies are doing their best to rapidly adapt to the increasing demands of today's industry.
Verein Deutscher Werkzeugmaschinenfabriken e.V., www.vdw.de, Hall 16, Booth D64