India is now the most populous country on Earth with over 1.4 billion people with a rapidly growing economy.
“Together with China, India has become a highly sought after economic partner for the machine tool industry,” says Carl Martin Welcker, General Commissioner for EMO Hannover 2023, ahead of the fair.
India currently ranks seventh in the world’s largest machine tool market. That is why Welcker, together with Ravi Raghawan, President of the Indian Machine Tool Manufacturers Association (IMTMA), organizes the EMO conference “India Opportunities: Growth and Potential of the Indian Machine Tool Market” at the Hannover Exhibition Center the 20 of September. this year.
“The Indian manufacturing industry is poised to experience remarkable growth in the coming decades, and machine tools will play a key role in shaping that progress,” explains IMTMA President Ravi Raghavan.
The goals of the conference, he says, are to highlight the huge opportunities offered by India’s future industries and to pave the way for trade associations. India also has great potential for international machine tool builders, as the country’s own production levels are just beginning to take off. Currently, 45 Indian manufacturers are using EMO Hannover 2023 to promote themselves and their offerings to the world.
“India’s machine tool industry is currently experiencing increased experience and innovation, making it an ideal partner for industry-leading companies and their suppliers,” adds Raghavan. India’s total demand for machine tools was estimated at €2.75 billion in 2022. About 60 percent of this was met by imports. The country’s largest suppliers include China, Japan, Germany, Italy and the United States.
Diversification of supply chains
These five countries will also be major exhibitors at EMO Hannover 2023 from September 18 to 23. “That is why we expect a lot of interest in our conference. After all, many companies are looking to diversify their supply chains and are eager to find alternatives to existing solutions”, emphasizes Carl Martin Welcker.
The panel will feature experts from key client sectors such as the manufacturing and automotive industries, and consultants with experience of doing business in India. They will discuss the growth prospects of the Indian industry in different formats.
They will also discuss business opportunities and challenges facing the automotive industry. The event brings together international exhibitors and visitors, allowing them to network and exchange ideas on doing business in the Indian market.
This is an excellent example of how EMO Hannover lives up to its claim to provide a platform for information and dialogue covering all topics related to production technology. The Future of Business Future Insight event will also take a closer look at promising growth markets.
The conference will take place from 11:00 to 14:00 on September 20, 2023 in Hall 3B of the Hannover Exhibition Center. The ticket price is 85 euros, which also includes the entrance to EMO Hannover.