Ø The demand for Machine Tools is all set to see a 15% growth in 2017
Ø Mumbai, Pune and Nashik will be the top three manufacturing hubs in Maharashtra by 2020
Ø The Indian machine tools industry is valued at $1 billion, just a fraction of the value of the global market at $84 billion
Mumbai, 6th May, 2017: AMTEX 2017, the 2nd Edition of the machine tools exhibition of international standards, concluded after its four-day long affair at Bombay Exhibition Center, Mumbai showcasing a wide array of Machine Tools, Machineries and Allied Products. Experts from length and breadth of the Machine Tool and Manufacturing industry in India and global participants from Japan, China and Taiwan are seen participating in this gleaming event and the value Industry experts estimate India's manufacturing sector to touch US$ 1 trillion by 2025.The exhibition witnessed 148 Exhibitors which included 29 international participants. The exhibition saw 8260 footfalls of business visitors this year.
The Exhibition was inaugurated by Mr. Cyril Pereira, Managing Director, Reed Triune Exhibitions Pvt. Ltd. Mr. Maulik Patel, Business Development-International, Sahajanand Laser Technology Ltd and Mr. Chandrakant Salunkhe, President, SME Chamber of India, Mumbai. Various trade bodies and international leaders also graced the inauguration.
The Indian Machine Tools industry is today valued at $1 billion, just a fraction of the value of the global market at $84 billion. Indian Machine Tool Manufacturers Association (IMTMA) said the Union Budget 2017 will expand the growth of the machine tool industry in India. While India stands 13th in production of machine tools in the world, it still imports 58% of the machine tools for domestic consumption. Machine tools production in India increased to INR 4727 crore during 2015-16 from INR 4230 crore in 2014-15, registering a 12% growth. According to Frost & Sullivan, the demand for machine tools is set to see a 15% growth in 2017 and India is set to become a key player in the global machine tools industry with substantial investments in high-end machine tool manufacturing.
AMTEX has created a highly organized and technologically advanced exhibit in 2017. The 2nd edition of AMTEX in Mumbai was an opportunity for exhibitors bringing together business opportunities, world-class technologies and participants from across the globe to explore the potential of the machine tool sector in the western region. AMTEX 2017 have provided a platform for global players to help tap these consumption and production hot spots of Western India. In order to help nurture the machine tools industry in India, AMTEX 2017 was the first expo to feature the Business Matchmaking Program, where participants and visitors got together and discussed business prospects.
Mr. Cyril Pereira, Managing Director, Reed Triune Exhibitions Pvt. Ltd enunciated,“AMTEX 2017 saw valuable participation from across Maharashtra, especially Pune and Mumbai. Though this show was smaller than our Delhi edition, we have served what we promised to our exhibitors, which is exposure to the market in Maharashtra. We have heard many good things about this show from our exhibitors, which makes us very proud. And also we are happy to see the enthusiasm that all the domestic and international companies are showing towards the next edition of AMTEX in Delhi. And this enthusiasm is equally shared by the AMTEX team, and we will see you in Delhi, from 6th to 9th July at Pragati Maidan.”
Some of the major companies participated in the event this year were Sahajanand Laser Technology Ltd, Ravik Engineers, Onward Technologies, Werner Finley, Keyence India, Simhope Industrial Co Ltd (Taiwan), Hangzhou Hirono Tools Co. Ltd (China). The visitor response for AMTEX 2017 was overwhelming, with a healthy attendance from end user industries like Cutting tools, Automations Automotive, Power & Electrical Equipment, Textile Machinery and Consumer Goods.