Eleventh edition of the machine tools exhibition of international standards AMTEX 2016 kick started from July 08 at Pragati Maidan, New Delhi 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 China, Germany, Japan, Korea, Singapore, Taiwan and Turkey.
Industry experts estimate India to stand 14th in the production and 10th in the consumption of machine tools in the world.
On the sidelines of the event, Frost and Sullivan unveiled its exclusive white paper themed Smart and Sustainable Manufacturing – Changing Era of Indian Manufacturing in partnership with AMTEX followed by a series of conference sessions led by the creme de la creme of the industry.
There are currently almost 700 machine tool manufacturers in India of which the top 25 players contribute a 70 percent share. The demand is growing at CAGR 15 percent annually of which about 60 percent of the demand is addressed by imports currently annually with tremendous boost from the Make in India initiative.
Domestic production has shown a strong growth of 24.1 percent in FY 2014-15 over FY 2013-14.