The fast-paced revival in the automobile sector, especially the sub-compact car category, will have a beneficial fallout on the machine tools and metal forming industry, Jamshyd N. Godrej, Chairman and Managing Director, Godrej and Boyce Manufacturing Company, and Chairman, (Exhibition), Indian Machine Tools Manufacturers Association (IMTMA), said at the inauguration of trade expo ‘IMTEX Forming 2010’ here on Thursday.
Mr. Godrej told reporters that the share of forming technology in manufacturing had increased to nearly 33 per cent from 20 per cent and in terms of machines consumption, it was poised to grow from the current Rs.3,000 crore to Rs.9,000 crore by 2014-15.
“Forming technology goes beyond metals to composites plastics, used in auto components to reduce weight for overall fuel efficiency in cars. If imported machinery still accounts for almost half the forming machines used, it indicates a growing demand to be met,” Mr. Godrej said.
Principal Scientific Advisor to the Union Government R. Chidambaram said the gap between research in academia and its use by industry was becoming narrower and Indian manufacturers could become more globally competitive with indigenous technology.
Jayant Davar, President, Automotive Component Manufacturers Association of India, said investments in the auto components sector would rapidly increase from the current $1.5 billion. The growing demand in the U.S. and Europe for more eco friendly and fuel efficient cars was an opportunity for car makers based in India.