Price sensitivity is always a challenge in India
February 20, 2023 4:10 pm
We focused on almost all sections like automotive, medical, infra, railways, and aerospace. Currently, the primary focus is on aerospace.
Technology range displayed at IMTEX
MMC Hardmetal focused on almost all sections like automotive, medical, infra, railways, and aerospace. However, currently, the major focus is on aerospace. Many of the new products recently launched for aerospace sectors were displayed at IMTEX. They also changed the general grid cells and have now introduced second-generation grids.
Industry outlook and developments
Indian Industry in the automotive sector is still a few years ahead, and it will remain the same. Aerospace is picking up relevantly. The government’s ‘Make in India’ initiative is to be thanked for this. All new producers coming to market have to manufacture 30-50 percent in India, which has a good pickup. The latest is the EVs approaching the market. The aerospace sector is also picking up, which is critical. They look into these things, and their strategies are aligned and inclined with this kind of market.
Apart from the competition, price sensitivity is the only challenge. However, the silver lining is that Indian customers have also started finding that only price is not to be discussed. The major discussion point is about productivity and how to produce more. Developed countries like China, Europe, the USA and Japan focus on something other than immediate pricing. Instead, they discuss the use of quality products. India is also on the same path, and this will help Indian manufacturing to grow to the next level.
The products can be applied as metalworking solutions. They are number four in India and plan to be number three. The aim is to go ahead.