New Delhi, July 9 (ANI
): Eleventh edition of the machine tools exhibition of international standards AMTEX 2016 kick started from July 08 at Pragati Maidan, New Delhi showcasing a wide array of Machine Tools, Machineries and Allied Products. Experts from length and breadth of the Machine Tool and Manufacturing industry in India and global participants from China, Germany
, Taiwan and Turkey.
Industry experts estimate India to stand 14th in the production and 10th in the consumption of machine tools in the world. The Exhibition was inaugurated by Rishi Kapoor, Meiban Engineering, Hiroaki Kiriyama, Muratec Engineering, Cyril Pereira, Managing director and Mohammed Shakeeb, Director, Reed Triune Exhibitions Pvt. ltd. Michael Mandl, CEO, Reed Exhibitions India amongst others.
On the sidelines of the event, Frost and Sullivan unveiled its exclusive white paper themed Smart and Sustainable Manufacturing - Changing Era of Indian Manufacturing
in partnership with AMTEX followed by a series of conference sessions led by the creme de la creme of the industry.
There are currently almost 700 machine tool manufacturers in India of which the top 25 players contribute a 70 percent share. The demand is growing at CAGR 15 percent annually of which about 60 percent of the demand is addressed by imports currently annually with tremendous boost from the Make in India initiative.
Domestic production has shown a strong growth of 24.1 percent in FY 2014-15 over FY 2013-14.
"AMTEX 2016 acts as the seamless platform for exhibitors bringing business opportunities, world-class technologies and enthusiastic participants from across the globe to present new technologies, to enhance productivity and to produce/manufacture and invest in India," said Managing Director Reed Triune Exhibitions Pvt. Ltd, Cyril Pereira.
"One platform to bring all the relevant sectors and high-end technologies of the industry like aerospace, automobiles, defense, electrical and electronics, material handling etc. The forecast of the global machine-tool market projects a 5.5 percent annual growth rate through 2019, driven particularly by expanding demand in China
and other developing nations. India
is perhaps all set to expand its reach to the global market to become a key player in the global machine tools industry," added Cyril Pereira. (ANI