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In 2016, the demand for CNC cutting machine tools in India will reach 237 billion rupees
According to the plan of the Indian Machine Tool Manufacturers Association (IMTMA), by the end of its 12th five-year plan, the market demand for CNC cutting machine equipment in India will increase by 2.3 times to the level of 237 billion rupees. In the fiscal year 2010-2011, the market demand for CNC cutting machines in India was 103 billion rupees, an increase of 28.7% from the 80 billion rupees in the 2009-2010 fiscal year. IMTMA also expects that the turnover of CNC cutting machine equipment in India will increase from the current 36 billion rupees to 139 billion rupees in the 2016-2017 fiscal year, with a compound annual growth rate (CAGR) of 25%. In the current fiscal year, the industry growth rate may reach 25%. CNC cutting machine equipment is currently widely used in India's domestic industrial field, which refers to equipment driven by electricity to perform drilling, milling, grinding or forming operations on metal products. M Lokeswara Rao, chairman of IMTMA, pointed out that in order to achieve the growth of domestic market turnover, it is also necessary to increase the market share of CNC cutting machines in India, and strive to increase the market share of the 2016-2017 fiscal year from 35% in the 2010-2011 fiscal year to 50% . He also mentioned that in the 12th five-year plan, the development of the CNC cutting machine industry will focus on technological development, and strive to achieve breakthroughs in some main parameters, including: high-precision CNC cutting machines, multi-spindle composite intersecting Wire cutting machines, heavy duty CNC cutting machines, various metal plasma CNC cutting machines, key mechanical components, CNC systems and other subsystems, as well as design/analysis/simulation software, machining and manufacturing. Currently, these technologies in the Indian CNC cutting machine industry are quite lagging behind. Another focus of the industry is on skills development and workforce complementation. At present, there are 30,000 employees in the CNC cutting machine industry in India, and the number of labor force is expected to double by the 2016-2017 fiscal year.