India is presently, with over 1.4 billion people, the most populated country on the planet, as well as the largest democracy and the fifth-largest economy with a rapidly developing economy. Over the next four years, the British economic research institute Oxford Economics forecasts annual growth rates of roughly 7 percent for industry and the economy as a whole. It is not surprising that heads of state from all over the world visit New Delhi on a regular basis. Carl Martin Welcker, General Commissioner, EMO Hannover 2023, emphasized ahead of the event that India has become a much sought-after economic partner for the machine tool industry, alongside China.
India is currently the world's seventh-largest machine tool market, which is why Welcker, along with Ravi Raghawan, President, Indian Machine Tool Manufacturers’ Association (IMTMA), will host the EMO ‘India Opportunities - growth and potential of the Indian machine tool market’ conference at the Hannover Exhibition Center on September 20 this year. “The Indian manufacturing industry is on the cusp of experiencing remarkable growth in the coming decades, and machine tools will play a key role in shaping that progress,” explains Raghavan. The aims of the conference, he says, are to highlight the enormous opportunities offered by India’s industries of the future, and to pave the way for business partnerships.
India also holds great potential for international machine tool manufacturers, as the country’s own production levels are just starting to take off. Actually, 45 Indian manufacturers are using EMO Hannover 2023 to promote themselves and their offerings to the world. “The Indian machine tool sector is currently experiencing a surge in expertise and innovation, making it an ideal partner for leading companies in the sector and their suppliers,” adds Raghavan. India’s total demand for machine tools was put 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 USA.
Diversification of supply chains
These five countries will also be major exhibitors at EMO Hannover 2023 from September 18-23. “That’s why we expect a lot of interest in our conference. After all, many companies are looking to diversify their supply chains and are keen to find alternatives to existing solutions,” emphasizes Welcker. The panel will feature experts from key client sectors such as the manufacturing and automotive industries, and consultants with expertise in doing business in India. They will be discussing the growth prospects of the Indian industry in different formats. They will also be talking about business opportunities as well as the 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 a prime example of EMO Hannover living up to its claim of providing an information and dialog platform which covers all topics relating to production technology. The Future of Business Future Insight event will also take a close look at promising growth markets.
The conference will be held from 11:00 to 14:00 on September 20, 2023, in Room 3B at the Hanover Exhibition Center. The admission fee is € 85, which also includes an admission ticket to EMO Hannover.
For more information: www.emo-hannover.de