MOLDEX and FASTNEX to drive growth in the $6.5B molding and $7.5B fastener industry in India
January 18, 2024 12:24 pm
MOLDEX India 2024 and FASTNEX aim to drive India’s $6.5B moulding and $7.5B fastener industries’ growth, aligning with ‘Make in India’ initiatives. These fairs unite key players for innovation and collaboration.
The manufacturing and fastening sectors are vital contributors to India’s economic landscape, significantly impacting GDP and employment. Estimated at over USD 6.5 billion, the Indian moulding industry is poised to grow at a CAGR of over 7%. The Indian fastener and fixing industry, estimated at over USD 7.5 billion, is expected to grow at a CAGR of over 8%. With India poised to be a major manufacturing hub, initiatives like “Make in India” aim to boost domestic production. MOLDEX India 2024 and FASTNEX aim to fuel this growth by bringing together key stakeholders, fostering collaboration and showcasing innovations. As these premier international trade fairs prepare to unfold their offerings from January 19-23, 2024 at BIEC, Bengaluru, the cumulative impact they promise is nothing short of revolutionary.
MOLDEX India 2024 aligns strategically with key government initiatives such as Make in India, FAME India (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles), and PLI Scheme (Production Linked Incentive). These initiatives provide a robust framework for sophisticated product development and foster growth in related industries. The exhibitions offer a unique opportunity to stay informed about the latest market trends, exchange information, and share ideas that can shape the future trajectory of businesses.
Organised by Messe Stuttgart India, a renowned in the trade fair and exhibition industry, at the heart of these exhibitions is a commitment to navigating the complexities of the manufacturing and fastening sectors, bringing together industry professionals, thought leaders, and businesses on a singular platform.
MOLDEX India 2024, with its focus on tools, pattern and mould making, aligns seamlessly with the dynamic needs of industries such as automotive, construction, electronics, and more. Concurrently, FASTNEX 2024, dedicated to the fastener and fixing industry, plays a pivotal role in connecting sectors like automotive, construction, infrastructure, and furniture. Co-located with IMTEX Forming, ToolTech, and WeldExpo, MOLDEX India 2024 and FASTNEX 2024 become a comprehensive hub for all aspects of manufacturing.
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Mr. Terrance Miranda, Managing Director, Phillips Machine Tools says, “We are committed to delivering solutions that enhance manufacturing capabilities, profitability, and productivity at MOLDEX India.
Jagjit Kaloti, CEO, Kaloti Group says “We are excited to be exhibitors at FASTNEX 2024, not just as participants but also as contributors to the evolving narrative of our industry peers.”
FASTNEX 2024 has garnered significant backing from prominent associations in the fastener sector, including the Fastener Manufacturers Association of India (FMAI) and the Fasteners Association of India (FAI). This support ensures that the event is well-aligned with industry changes and addresses the specific needs of the fastening community.
India, being the sixth among the top manufacturing countries globally and the second fastest-growing major economy, provides a fertile ground for these exhibitions to catalyse growth. With USD 320 billion in merchandise exports annually, the exhibitions offer a strategic platform for showcasing and witnessing the latest technology and innovation in the moulding, pattern-making, and tool sectors.