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Indian machine tool manufacturers will seize the world market
India's Jyoti Group's Huron in Renningen, Germany, has an ambitious plan. Mr. Parakram Jadeja, general manager of Huron, announced at the annual press conference: 'We plan to enter the world's top 10 in 2015.' In Europe, the consumers of machine tool products account for almost 50% of the global machine tool consumers. Therefore, Mr. Jadeja believes: 'It is very important that we serve machine tool users locally.' Currently, Huron's goal in Europe is to sell 250 machines per year, and they also have expansion plans. Jyoti Group is one of the fastest growing companies in the world. In 2003, the company's sales revenue was only 3 million euros, and by 2010 it is planned to increase to 150 to 160 million euros. While the current economic crisis has had an impact on the company, they believe it is only holding back the business in the short term. Jyoti Group's growth strategy is to launch a full range of turning and milling machines to compete with major competitors such as DMG, Mazak and Mori Seiki. At the corporate presentation, the company also presented for the first time the new MX series of machines for EMO 2009, which can perform all milling and turning of workpieces in one setup.