Machinery and equipment manufacturing drives growth in demand for machine tools in India

It is reported that the Indian government will invest a lot of money in infrastructure construction in the next few years, which will provide a lot of opportunities for the development of Chinese enterprises in India. According to the Confederation of Indian Industry, 41 of the 121 manufacturing sectors are expected to grow by 20%. According to the statistics of Gardner Publishing Company in the United States, in 2011, India was the 7th largest machine tool consumer in the world, and its machine tool industry ranked 16th in the world. In 2011, the output value of machine tools in India was 576 million US dollars, the consumption was 2.352 billion US dollars, the export of machine tools was 28 million US dollars, and the imported machine tools were as high as 1.804 billion US dollars. It can be seen that India's dependence on imported machine tools reached 77%. The continued growth of India's machine tool industry mainly depends on the huge demand brought about by the rapid development of its domestic automobile and parts industry. According to the Indian Auto Parts Association, by 2018, the Indian auto, motorcycle and parts industry will need at least $1.5 billion annually to purchase production equipment. In addition, the Indian government is actively strengthening infrastructure construction, such as construction machinery, transportation machinery, and textile, clothing, and shoe-making machinery required for the construction of railways, airports and highways, which will become the main driving force for the growth of machine tool demand in India in the future. source. According to the analysis of industry experts, the upstream raw material part of India's machinery and equipment manufacturing industry is quite well developed. In addition to its own iron ore production, it is also one of the world's major steel-producing countries. In the secondary processing industry of iron and steel materials in the middle reaches, because there is no technical threshold problem in the casting and forging industry, and the cost of primary labor in India is low, many countries have begun to turn to India for OEM procurement, especially the foundry industry with serious pollution problems. For the downstream industry, because India is not a traditional industrial country, the industrial division model of developed countries and regions cannot be realized in India at all. Especially for precision machining, due to the relatively backward machine tools in India, it will be difficult to find qualified suppliers of precision components.