Indian Machine Tool Manufacturers’ Association (IMTMA) held its 72nd Annual General Meeting (AGM) on 5 September 2018, at the Bangalore International Exhibition Centre (BIEC), Bengaluru. At the Executive Committee meeting, following the AGM, new Executive Committee of IMTMA for the year 2018 - 2019 was formed.
Prior to the AGM, a presentation on Digital Manufacturing which threw light on some of the key aspects of Industry 4.0 and other related technologies such as internet of things, artificial intelligence, machine learning, etc. was made by Dr. Nitin Bhate, CMO & Digital Leader, GE South Asia.
Delivering his annual address at the AGM, IMTMA President, Mr. P. Ramadas, briefly spoke about the positive signs emerging in the Indian economy and the Government of India’s impetus to manufacturing.
Mr. Ramadas said that the Indian machine tool industry registered an impressive growth of around 26% in production and around 27% in consumption during FY 2017-18. Indian machine industry is expected to grow further in the coming years.
He also touched upon some of the developments happening in the Indian manufacturing industry with many Indian and foreign companies setting up their manufacturing units in the country. He said that the manufacturing industry needs to tap into the various opportunities that are rising in the defence and aerospace as well as other sunrise sectors.