We garnered robust business in Make in India initiative
February 14, 2023 12:18 pm
Ceratizit is number four in the carbide industry in the metal cutting industry worldwide. And the target is obviously to become number three.
CERATIZIT is number four in the carbide industry for metal cutting worldwide. The target is obviously to become number three. One division within CERATIZIT focuses on the raw material, and the other on products. CERATIZIT is 100 percent independent from China in terms of raw materials. All the raw materials come from our own company. We have basically 2 divisions, hard material and cutting tools. GTP produces raw material.
Industry outlook for cutting tools and the challenges faced by the industry
The general challenges faced by the cutting tools industry are mainly due to supply chain issues, that means the worry about the raw material. The war also created a situation that led to increase in energy prices and prices due to inflation. All these things put together have made a difficult situation, but fortunately for CERATIZIT, the whole supply chain is within the group. We do have our recycling plants and have also invested in such ventures.
Make in India and Atmanirbhar Bharat
The campaigns of Make in India and Atmanirbhar Bharat are helping businesses. We garnered more business due to the Make in India initiative of the government. Doing business has become more accessible. The ease of business in India has grown many-fold in the last few years. We have grown around 20 percent this year; last year, after the Covid, we grew by thirty percent. The schemes helped our growth.
CERATIZIT has 30 production sites, and out of that 30-production side, three sites are in India. So, more than 10 percent of total production sites are in India. CERATIZIT produces a big variety of products and lot of specials in India. So that is very nice for the Indian market. The company has 8000 employees worldwide now, with a presence in 80 different countries. And the overall turnover this year will be 1.5 billion euros with our headquarters in Luxembourg.