LMW Banner 2

Your future advertising space? Our media data

Camozzi

Your future advertising space? Our media data

Indian tooling industry is on a robust growth trajectory

Indian tooling industry is on a robust growth trajectory

December 29, 2023 7:18 pm

TAGMA, led by President Devaraya Manjunath Sheregar, champions the Indian tooling community, advocating for policies, fostering skill development, and facilitating industry connections for growth and innovation.

Please discuss the objectives and mission of the Tools and Gauge Manufacturers Association within the die and mould industry.
TAGMA serves as the voice for the Indian tooling community. We provide platforms like Die Mould India, International Tooling Summit, and ToolTech. These avenues help toolmakers showcase their capabilities to potential customers, which might otherwise be challenging for the small toolmakers.

Our primary mission is to serve as a vibrant forum for the Indian Tool Room & Die and Mould Industry. Our members design, sell, and manufacture essential tooling equipment. It encompasses various tools for pressing, stamping, punching, forming, injection and compression moulds, die casting, patterns, jigs, fixtures, CAD/CAM services, rapid prototyping, precision machining, special machines, and associated products.

TAGMA actively shares the challenges faced by toolmakers with government and policymakers, advocating for policies that benefit the industry. Skill development is a priority, and TAGMA facilitates this through various initiatives. The TAGMA Times newsletter keeps toolmakers informed about the latest global developments. Furthermore, TAGMA plays a pivotal role in connecting overseas companies or OEMs with Indian toolmakers, fostering opportunities for business collaboration. Initiatives such as the Tooling Academy and Tool Talk are dedicated to enhancing the skill sets of toolmakers and supporting their professional growth.

What emerging trends do you visualise in the Indian die and mould industry?
The Indian tooling industry is on a robust growth trajectory that is expected to continue in the foreseeable future. Post-pandemic, both the global and Indian tooling sectors have shown steady expansion. In 2021, the global tool room industry hit USD 80 billion, while the Indian market stands at an estimated ~INR 23,600 crore. In particular, around 34 percent of India’s tooling demand relies on imports from China, South Korea, Japan, and Taiwan. In contrast, about 15 percent of India’s tooling production is exported, primarily to the USA, Spain, Mexico, and Germany. Commercial Tool Rooms (CTRs) observed an approximate growth of 8.1%, while Captive Tool Rooms grew at around 1.5 percent, in contrast to nearly stagnant import figures.

Given the rising diversity in products and shorter product life cycles globally, the demand for tooling is poised to surge. Nations excelling in tooling capabilities will gain strategic advantages. Therefore, it’s crucial to foster the growth of Indian tool makers and facilitate their entry into international markets. Localising tooling production holds economic promise, fostering job creation, nurturing indigenous machine makers, fostering robust R&D, and optimising supply chains. Addressing the challenges hindering the growth of Indian tool makers is pivotal in this scenario.

The industry is witnessing several emerging trends that are shaping its landscape. Indian tooling companies are expanding their horizons beyond the automotive sector, aligning with a global pattern of diversification. This strategic move helps them mitigate risks and broaden their business scope to adapt to the changing industrial environment.

Additionally, the pandemic highlighted the value of digital solutions, prompting tooling companies to embrace digital technologies increasingly. This shift toward digitisation aims to enhance overall business operations and efficiency, emphasising the importance of technological advancement in the industry.

Furthermore, continuous skill development has become imperative to meet customers’ evolving demands. Keeping abreast of the latest technologies is crucial to cater to the increasingly sophisticated market requirements and to maintain a competitive edge.

Moreover, as Indian companies serve a global customer base with stringent demands for precision and efficiency, adopting cutting-edge technologies becomes essential. Embracing the latest technologies is paramount for meeting stringent requirements.

Advertising

Your future advertising space? Our media data

What measures are TAGMA taking to tackle the challenges that die and mould manufacturers encounter?
Since the last few years, there has been good improvement in ease of doing business. Campaigns such as ‘Make in India, Atmanirbhar Bharat’ and PLI schemes for various industries generate good business for domestic players.

However, we still need a long way to go to the level of countries like China and Taiwan. Some key elements, such as tool steel and 5-axis machines, are all imported in India, as we do not have Indian alternatives and carry high import duties. Apart from this machine and land finance for the expansion of the business is also very high. The tooling industry requires substantial capital investment, and creating a more favourable business environment is essential to attract additional players.

To overcome the above challenges, we periodically engage with policymakers and relevant departments within the Ministry to highlight the obstacles toolmakers encounter. As the foremost association representing tool and die makers, TAGMA serves as the collective voice of Indian toolmakers, advocating for policy changes that align with their needs.

Additionally, we host numerous events to foster connections between the user and industry professionals. These events provide opportunities for industry members to understand user expectations, gain insights from subject matter experts on industry advancements, stay updated on technological trends, and establish valuable business contacts within the sector. We also have many initiatives for skill development, such as Tooling Academy and ToolTalk.

What are the key highlights of the upcoming exhibition scheduled for February 2023 in Mumbai?
Die Mould India stands as India’s premier exhibition for tool & die makers and technology providers, drawing eager anticipation from exhibitors and visitors, instilling strong confidence in the show’s success. Some of its highlights are:

Over 50 delegations representing OEMs and public sectors indicate significant industry interest and participation. A showcase of cutting-edge technology, including additive manufacturing, integrated CAD/CAM software, multi-axis CNC machines, the latest injection moulding machines, tool steel, and industry 4.0 solutions, offering a comprehensive display of the latest industry advancements.

Engagement opportunities facilitated by over 15 user industry associations, fostering avenues to explore and establish business collaborations with toolmakers. Additionally, a dedicated B2B pavilion is set up to facilitate meaningful interactions between buyers and sellers, providing a conducive environment for business meetings and transactions.

What educational and skill-building programs does the association provide to aid the professional growth of individuals engaged in the die and mould sector?
In the ever-evolving landscape of the die and mould sector, the continuous enhancement of professional skills is paramount. Recognising this, TAGMA has strongly emphasised robust educational initiatives to support skill development. Through programs like ToolTalk and Tooling Academy, we are committed to providing a platform for ongoing learning, knowledge sharing, and professional development.

ToolTalk, introduced as a monthly webinar series in April 2021, provides a platform for direct interactions between industry leaders and subject matter experts from India and around the globe. These discussions delve into various facets of the Tooling industry and address the expectations of the user industry.

Complementing this, Tooling Academy is a skill development initiative dedicated to aiding Indian tooling professionals in their training and development journey. Collaborating with industry experts every month, TAGMA conducts virtual training sessions. These sessions aim to update the industry on the latest developments and technological trends and instil best manufacturing practices among professionals. Together, these initiatives empower individuals to stay updated, navigate industry challenges, and seize opportunities within the dynamic tooling sector.

Cookie Consent OEM Update

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Webinar

Your future advertising space? Our media data

Events

India Fastener Show
Aerodef India Manufacturing Expo
ChemPro Tech India
Intralogistics and Warehousing Expo
Metal Forming Expo
amtex
Fastener Fair India
Himtex 2024
World of Photonics India
IFFE Expo
India Essen Welding and Cutting Expo

eMagazine February 2024

eMagazine February 2024

Your future advertising space? Our media data

Our Sponsors

STMCNCPilz IndiaFuji Electric IndiaBibus IndiaMallcomPMT Machines LtdIgus India Pvt LtdVega India Level LtdFenwick and RaviMMC Hardmetal Pvt LtdRadicon PowerbuildMennekesACD MachinesJupiter ElectronicsZiessMitsubishi MaterialsFietestUnited GrindingProstarm