New Delhi, Apr 22 (UNI) The Indian Machine Tool Manufacturer's Association (IMTMA) today unveiled Modern Machine Shop (MMS) 2008, a new business to business exposition bringing together an array of machines, equipments, products and services enabling facilitation of a modernised shop floor.
The four-day long event will have 110 exhibitors, including 24 from eight foreign participating countries and group participation from Germany apart from key business delegation from ACMA, Indian Railways and Indian ordinance factories.
''MMS 2008 is held at a time when the manufacturing sector is continuing to be buoyant in India and needs to be globally competitive and adjust itself to the faster changing technology and other trends in the sector,'' said IMTMA president N K Dhand.
The country is likely to become the 10th largest market of machine tools globally with consumption of about Rs 7,500 crores in FY08 and is expected to grow at 25-30 per cent in the next five years, he added.
The association is also planning to set up two-three machine tool parks in different industrial zones of the country on a public private partnership (PPP) model to co locate machine tool companies and their supply chain units to achieve long term capacity expansion, technology upgradation and market development.
''However there are challenges before the industry such as dominance of imports which contribute 60 per cent to the total consumption of the country and lack of technological advancement,'' said Mr Dhan.
The association aims to be the backbone of growing sectors such as wind energy, medical equipment and aircraft industry and it is targetting potential markets in Europe, South East Asia, Turkey, Japan and Germany.
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