Forming Growth

By admin January 13, 2016 12:42 pm IST

An analysis on how metal forming industry is contributing to country’s growth
  Metal forming industry in India is at nascent stage as compared to developed countries. The largest customer of metal forming industry is automobiles sector which is hardly 20 years old after the opening up economy in 1990. But today metal forming machine tools industry has become the back bone of automobile sectors and engineering industries. There is scope for investment and R&D to cater to the need of major industrial sector where production of small components plays a very important role. The new upcoming infrastructure and architectural projects are also utilising the metal forming machine tools to make the structures from imported and locally procure draw material. This is contributing to a major component of the growth and development of the metal forming machine tools industry in India. Present scenario is such that, without a major contribution from metal forming machine tools industry, production of components is almost impossible.
The focus of ‘Make in India’ campaign is going to be the proliferation of small to medium size industries and that involves substantial amount of segments and sub segments of the metal forming industry.
The year 2016 looks cautiously optimistic for the metal industry. This has been the sentiment for the past few quarter, as most companies expect sales and profitability to increase yet remain concerned about the increased activity. Increased sales also may require additional capital expenditures. Most companies have increased their capital expenditures in the last couple of years in order to meet the demands of increased activity.Is the Indian metal forming industry at par with global standards?The current metal forming machine tools industry is trying to compete globally in terms of the throughput using advance imported equipment, material and techniques. The Indian improvisation is also aiding the industries to be at global standard with better pricing.
The manufacturing companies that will survive and prosper in a global market must have the best raw material inputs and most economical manufacturing methods that is available in abundant and all that is needed is the mindset to improve and set new standards. As there’s a lot of foreign investment happening in the manufacturing segments, there are expectations to deliver the best.
The metal forming sector has been evolving since more than 100 years and the industrial revolution in many continents is a fair evidence of that gradual development. While the industrial revolution was taking place, the phenomena had vastly concentrated in some selective regions across the globe. Consequently some regions had to pass thorough immense technological struggle in order to match the peace. After many decades of striving efforts many other regions have proved their metal by technological advancement.
OpportunitiesWith ‘Make in India’ drive lot of investment is coming and the technological gap is narrowing. The prestigious brands like BMW, Mercedes Benz have already announced their investment programmes in India which would offer the opportunities to domestic manufacturers to upgrade their facilities.
The ‘Make in India’ is aiming to drive the splendid development to the base industries which supply the goods and material utilised in big sectors to manufacturing process. That is the case for metal forming industry as it delivers the raw goods to the enormous domains.
Government is intensively planning huge projects to enhance the infrastructure in tier 2 cities and this development just cannot be undertaken without involvement of metal forming industries.  Along with that heavy machinery as well as equipment manufacturing industries has initiated the reformation with collaborative efforts of private sectors and governments.  Speaking of electronics, ‘Power to all’ initiative of government is looking forward to provide power to all over India by the year 2019.
It is a good time for Indian manufacturers to look hard at opportunities to export their products.

Advertising

Your future advertising space? Our media data