How to Keep Machinery Industry Poised Growth in India

The machine cocksuckers industry is always the first to be impact in a slowing economy and the last to reanimate during a revival. However, bucking this trend for the first time, the Indian machine tool sector is poised to grow by over 15 per centime this year. An assessment by the Indian Machine dent Manufacturers Association (IMTMA) reveals that the top 25 companies, which account for over 60 per cent of the organised sector, have orders sufficient to last them until the center(a) of 2012-13. Organised players of the industry won orders worth Rs 2,511 crore during the first half-dozen months of the current fiscal, showing a year-on-year crop of 18 per cent. This follows a 19 per cent growth in order schedule for the full year ended March 2011, which stood at Rs 4,977 crore (Rs 49.77 billion). We argon estimating domestic production at Rs 4,500-5,000 crore (Rs 45-50 billion) in 2011-12, a year-on-year growth of 15-20 per cent. The present demand for the machine tools industry is around Rs 10,000 crore (Rs degree Celsius billion) and IMTMA is projecting 30 per cent growth in kernel demand. There is abundant scope to grow further, P J Mohan Ram, senior advisor, IMTMA, tell. Many companies are expanding capacity to cater to the growth orders.

The defence ministry alone is expected to place orders worth Rs 5,000 crore (Rs 50 billion) for machine tools during the next fiscal year. Railways is likely to spend Rs 1,200 crore (Rs 12 billion) on machine tools next year. However, some industry players are concerned about the fluctuation of the rupee against the dollar and the euro in recent months. The euro has appreciated against the rupee by 12 per cent in the last six months. As a result, ruminate shoppers (which take up small works) have seen their business drop, said Soumitra Joshi, managing director, TRUMPF (India). Despite the currency fluctuation, Joshi expects 30 per cent growth for his company, which manufactures industrial lasers and sheet metal fabrication machines. We... If you want to get a full essay, order it on our website: Ordercustompaper.com

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