Strategic Consulting for Machinery Industry Expansion in India
From market entry to expansion, Maier Vidorno Altios helps machinery companies navigate Indiau2019s business landscape with proven strategies and local expertise.nn// /industry-expertise/machinery-industry-in-india/
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Presentation Transcript
INDUSTRY UPDATE: INDIA Machinery Industry 2024
Indian Machinery market The textile machinery industry is set to reach $6 billion by end of 2024, a significant segment of Indian machinery manufacturing. India ranks 4th globally in textile machine imports, indicating potential for domestic manufacturing growth. 15 Special Economic Zones (SEZs) approved for the engineering sector, including electrical machinery, attracting investments from countries like Japan, France, the UK, USA, and Italy.
Key investors in Indian electrical machinery: Japan, France, UK, USA, and Italy. Indian tractor industry leads globally, contributing one-third to global production. Tractors exported to Malaysia, Turkey, and other countries. Shifting manufacturing, equipment and machinery. to automated driving and process-driven demand for high-end Progressing Government of India's initiatives. towards Industry 4.0 through
Leading sub-sectors in the Machinery Industry 1.Light engineering -Casting & Forging -Medical & Surgical Equipments -Industrial Fasteners 2.Heavy Engineering -Turbines & Generators -Boilers -Transformers -Switch Gear & Control Gear
Leading sub-sectors in the Machinery Industry 3.Automotive -Passenger & utility vehicles -Auto components -Agricultural Machinery 4. Packaging & Textile
Growth Drivers Government schemes supporting agricultural equipment loans drive growth in the sector. India's reputation as a preferred outsourcing location attracts global manufacturing firms. Increasing global demand for advanced textile machinery contributes to industry growth. Indian Electrical Equipment Industry Mission Plan aims to make India a preferred location for electrical equipment production.
Challenges in India Limited access to advanced technology and expertise Need for continuous innovation and upgradation Investments in research and development are necessary Technological collaborations to enhance competitiveness Fulfilling growing demands of domestic and international markets
Want to do more in India? Deepmala Datta d.datta@mv-altios.com
