‘Make in India’ movement gets momentum at IMTEX

By admin February 18, 2015 11:43 am IST

“IMTEX is a crucial exhibition to propel the Indian manufacturing sector towards productivity and high quality”
‘Make in India’, a major new national program designed to transform India into a global manufacturing hub, is started spreading its wings. Encouraged with the government’s commitment in facilitating ease in doing business, companies are increasingly expressing their interests in investing in India.
Market scenarioBuoyed by strong domestic demand the manufacturing sector in India is having huge potential to grow. According to a Mckinsey report, India’s manufacturing sector could reach $ 1 trillion by 2025. The sector has potential to account for 25-30 per cent of the country’s GDP and create up to 90 million domestic jobs, by 2025.
Business conditions in the Indian manufacturing sector continued to improve in fuelled by accelerated growth of output and new orders. According to the HSBC India Manufacturing PMI data, manufacturing operating conditions in India rebounded from 51 in September 2014 to 51.6 in October 2014.
Positive outlookThe optimism within the manufacturing sector was largely witnessed during the recently concluded IMTEX 2015. The 17th edition of South East Asia’s largest industrial show IMTEX
2015 and Tooltech 2015, organised by the Indian Machine Tool Manufacturer’s Association (IMTMA), was a grand success with the participation of over 900 exhibitors from 24 countries.L. Krishnan, President, IMTMA considers IMTEX 2015 is a great enabler of ‘Make in India’ which showcases technological developments, innovations, etc. He said, “IMTEX is the crucial exhibition to propel Indian manufacturing towards productivity and quality and to make Indian manufactured products globally acceptable. IMTEX is a crucial exhibition to propel the Indian manufacturing sector towards productivity and high quality, and to make Indian manufactured products globally acceptable. IMTEX 2015 also provided a thrust for the ‘Make in India’ movement and in turn the Indian economy.”