According to the plans of the Indian Machine Tool Manufacturers Association (IMTMA), by the end of its 12th five-year plan, the market demand for CNC machine equipment in India will increase by 2.3 times to a level of 237 billion rupees. In the fiscal year 2010–2011, the market demand for CNC cutting machines in India was Rs 103 billion, an increase of 28.7% from Rs 800 billion in 2009–2010.
IMTMA also expects that from fiscal year 2016 to 2017, the turnover of India's CNC cutting machine equipment will increase from the current Rs. 360 billion to Rs. 139 billion, 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 industry, refers to the use of electric drive, drilling, milling, grinding or forming equipment for metal products.
IMTMA chairman M Lokeswara Rao pointed out that in order to achieve growth in the domestic market, it is also necessary to increase the market share of CNC cutting machines in India and strive to increase the market share from fiscal year 2016 to 2017 from 35% to 50% in fiscal year 2010-11. .
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 major parameters, including: high-precision CNC cutting machine, multi-spindle composite intersecting Wire cutting machines, heavy-duty CNC cutting machines, various metal plasma CNC cutting machines, key mechanical parts, numerical control systems and other subsystems, as well as design/analysis/simulation software, processing and manufacturing. At present, these technologies in the Indian CNC cutting industry are lagging behind.
Another focus of the industry is the development of skills and the supplement of the workforce. At present, there are 30,000 employees in the Indian CNC machine industry and it is expected that the labor force will double by 2016-2017.
IMTMA also expects that from fiscal year 2016 to 2017, the turnover of India's CNC cutting machine equipment will increase from the current Rs. 360 billion to Rs. 139 billion, 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 industry, refers to the use of electric drive, drilling, milling, grinding or forming equipment for metal products.
IMTMA chairman M Lokeswara Rao pointed out that in order to achieve growth in the domestic market, it is also necessary to increase the market share of CNC cutting machines in India and strive to increase the market share from fiscal year 2016 to 2017 from 35% to 50% in fiscal year 2010-11. .
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 major parameters, including: high-precision CNC cutting machine, multi-spindle composite intersecting Wire cutting machines, heavy-duty CNC cutting machines, various metal plasma CNC cutting machines, key mechanical parts, numerical control systems and other subsystems, as well as design/analysis/simulation software, processing and manufacturing. At present, these technologies in the Indian CNC cutting industry are lagging behind.
Another focus of the industry is the development of skills and the supplement of the workforce. At present, there are 30,000 employees in the Indian CNC machine industry and it is expected that the labor force will double by 2016-2017.
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