4th ITS underlines opportunities in the Indian tooling industry

By OEM Update Editorial March 7, 2019 3:12 pm IST

India’s largest die mould gathering, the fourth edition of International Tooling Summit (ITS) was inaugurated at Hotel Hyatt Regency, Pune. Organised by Tool and Gauge Manufacturers Association (TAGMA), the event revolved around the theme, ‘Indian Tooling Industry: Forming and Moulding the Future’. The two-day event saw four panel discussions, 16 technical sessions, with about 40 speakers discussing various topics that impact the Indian tooling industry. Overall, the event aimed to highlight the latest technology trends, business dynamics, opportunities, challenges and the future outlook.

Welcoming over 400 professionals from around the world, D K Sharma, President, TAGMA INDIA said, “I am delighted to share that in just four years, ITS has become one of the most important a platform for the Indian tool room professionals for knowledge sharing, understanding global trends, and building acquaintances.Today, with an increase in demand from the automotive and consumer industries, the Indian tooling sector is witnessing rapid growth. The total tooling demand for FY17 in India was USD 2,070 million and is expected to reach USD 2,683 million by FY20 with the CAGR of 9 per cent. This is a good time to be a tool maker in India; we must celebrate this occasion and gear up for the future opportunities.”

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