<p>Despite slowdown, Indian Machine Tool industry is expected to see a year-on-year growth of 15-20 per cent. </p>.<p>Industry players across different product segments have their order books overflowing for next few quarters. Some have even rejected few orders in the recent days.<br /><br />Historically, machine tool industry is dependent on automobile and auto components sector for its business. But, in the last couple of years, the industry has diversified into other user segments thereby reducing its dependency on auto sector.<br /><br />Indian Machine Tools Manufacturers’ Association (IMTMA) Senior Advisor P J Mohan Ram said “the outlook is positive. Last year the domestic industry produced machines worth Rs 3,600 crore. We are estimating production at Rs 4,500 crore to Rs 5,000 crore in 2011-12, year-on-year growth of 15-20 per cent.”<br /><br />The present demand is somewhere around Rs 10,000 crore and IMTMA is projecting a growth of 30 per cent in total demand. “There is abundant scope to grow further,” he said. <br /><br />Bangalore-based Hydraulics equipment major Yuken India Ltd MD C P Rangachar agreed: “Order book is fairly good at about 20 per cent increase compared to last year.” <br /><br />Many companies are expanding their installed capacities to cater to growing orders in quick time. “We have doubled factory space and added machines from Japan and made investment of Rs 20 crore to hike capacity to 1,500 tonne per month. We are recruiting 100 employees more,” he added. However, companies like Pune-based Electropneumatics & Hydraulics (India) Pvt Ltd that have seen 10 per cent drop in orders over last quarter. <br /><br />Company Director (Technical) Ashley Rasquinha said “we see huge competition in technology from Taiwan and companies in India need to gear up in coming days. The only way to beat them is investing in technology and be more competitive.” <br /><br />IMTMA President Vikram Sirur said the association has urged the Centre to set up a machine tool technology development fund with a corpus of Rs 1,000 crore. The industry needs to invest Rs 7,000 crore to Rs 8,000 crore over next 5 to 7 years to achieve desired growth rate of 25 per cent, he added.</p>
<p>Despite slowdown, Indian Machine Tool industry is expected to see a year-on-year growth of 15-20 per cent. </p>.<p>Industry players across different product segments have their order books overflowing for next few quarters. Some have even rejected few orders in the recent days.<br /><br />Historically, machine tool industry is dependent on automobile and auto components sector for its business. But, in the last couple of years, the industry has diversified into other user segments thereby reducing its dependency on auto sector.<br /><br />Indian Machine Tools Manufacturers’ Association (IMTMA) Senior Advisor P J Mohan Ram said “the outlook is positive. Last year the domestic industry produced machines worth Rs 3,600 crore. We are estimating production at Rs 4,500 crore to Rs 5,000 crore in 2011-12, year-on-year growth of 15-20 per cent.”<br /><br />The present demand is somewhere around Rs 10,000 crore and IMTMA is projecting a growth of 30 per cent in total demand. “There is abundant scope to grow further,” he said. <br /><br />Bangalore-based Hydraulics equipment major Yuken India Ltd MD C P Rangachar agreed: “Order book is fairly good at about 20 per cent increase compared to last year.” <br /><br />Many companies are expanding their installed capacities to cater to growing orders in quick time. “We have doubled factory space and added machines from Japan and made investment of Rs 20 crore to hike capacity to 1,500 tonne per month. We are recruiting 100 employees more,” he added. However, companies like Pune-based Electropneumatics & Hydraulics (India) Pvt Ltd that have seen 10 per cent drop in orders over last quarter. <br /><br />Company Director (Technical) Ashley Rasquinha said “we see huge competition in technology from Taiwan and companies in India need to gear up in coming days. The only way to beat them is investing in technology and be more competitive.” <br /><br />IMTMA President Vikram Sirur said the association has urged the Centre to set up a machine tool technology development fund with a corpus of Rs 1,000 crore. The industry needs to invest Rs 7,000 crore to Rs 8,000 crore over next 5 to 7 years to achieve desired growth rate of 25 per cent, he added.</p>
