4th ITS underlines opportunities in the Indian tooling industry

By OEM Update Editorial March 7, 2019 3:12 pm IST

India’s largest die mould gathering, the fourth edition of International Tooling Summit (ITS) was inaugurated at Hotel Hyatt Regency, Pune. Organised by Tool and Gauge Manufacturers Association (TAGMA), the event revolved around the theme, ‘Indian Tooling Industry: Forming and Moulding the Future’. The two-day event saw four panel discussions, 16 technical sessions, with about 40 speakers discussing various topics that impact the Indian tooling industry. Overall, the event aimed to highlight the latest technology trends, business dynamics, opportunities, challenges and the future outlook.

Welcoming over 400 professionals from around the world, D K Sharma, President, TAGMA INDIA said, “I am delighted to share that in just four years, ITS has become one of the most important a platform for the Indian tool room professionals for knowledge sharing, understanding global trends, and building acquaintances.Today, with an increase in demand from the automotive and consumer industries, the Indian tooling sector is witnessing rapid growth. The total tooling demand for FY17 in India was USD 2,070 million and is expected to reach USD 2,683 million by FY20 with the CAGR of 9 per cent. This is a good time to be a tool maker in India; we must celebrate this occasion and gear up for the future opportunities.”

ITS 2019 was action-packed. There were thought-provoking panel discussions and technical sessions strategically organised on both the days. Topics like ‘OEMs and Tooling Suppliers – Collaborative Approach’, ‘Subtractive & Additive Technologies – How Will The Coexistence Emerge In Future?’‘ Emerging Sectors for Indian Tool Makers’ and ‘Changing Dynamics in Auto Sector – Impact on Indian Tooling Industry’ were part of the panel discussions.

During these two days, various companies showcased their state-of-the-art technology through technical sessions and stalls at the event that targets companies and professionals associated with die mould industry. The thought provoking panel discussions also helped the professionals present at the eventunderstand the latest in technology, customer expectations, opportunities and the challenges in front of the Indian tooling industry.