8th Machine Tool Industry Summit

Indian Machine Tool Manufacturers’ Association (IMTMA) organized the 8th Machine Tool Industry Summit in Goa from 19-21 May 2022. Held once every two years, one of the flagship events of IMTMA, the Machine Tool Industry Summit provides a forum to the entire machine tool fraternity, viz., machine tool builders, sub-suppliers, accessories, and allied equipment manufacturers, vendors, R&D institutions, industry experts and individuals to network, collate ideas and set forth a process of organized thinking, analysis and deliberations.

About 300 delegates from a wide spectrum of the machine tool industry participated in the summit in Goa this time. The 3-day summit featured panel discussions and presentations from experts and achievers from the Indian machine tool industry. The summit had thought-provoking sessions, clubbed with panel discussions which provided a platform for introspections, brainstorming and networking.

Addressing delegates as a keynote speaker during the inaugural session Mr. Rajesh Khatri, VP- PV Operations, Tata Motors Passenger Vehicles Limited, spoke about the evolving developments in the automotive manufacturing industry as it contributes 7.1% of India’s GDP growth. He mentioned about 9 megatrends that will define and shape the Indian Automotive industry, technology enablement, hyper-connectivity, business model innovation, changing consumer preference, sustainability, de-globalisation, demographic shifts, dispersed urbanisation, the rise of India’s economic power. While the overall industry is stagnating, green shoots are seen in PV segment. The PV industry is expected to grow at 7 – 9 % CAGR owing to better demand and is projected to reach 7 million by 2030. Electrical Vehicle penetration is expected to grow to 7 – 10 % by FY 2025. EV is the future and it is going to take centre stage in a couple of years as this would help in lowering greenhouse gas emissions. He mentioned that the machine tool industry needs to reinvent itself, diversify, export and reskill. 

Mr Shailesh Sheth, Past President, IMTMA, spoke about “Opportunities and Disruptions in a New India- Scanning the Future”. He mentioned about embrace technology to stay ahead of the competition and develop skills for tomorrow.

The 3 day summit witnessed deliberations on various topics related to Machine Tool Industry Prospects and engagement with High Potential Customer, Global Reach for Indian Machine Tools, Selling & Marketing in the Digital Age, Input Cost Management and Value Engineering in a VUCA World, Effective Supply-Chain Integration, Improving Manufacturing Performance, Successful implementation of Industry 4.0 in Machine Tool Industry and Reinvigoration of Human Resources in a Tech-Focused Industry.