Page 46 - ENGINEERING REVIEW APRIL 2022 DIGITAL MAGAZINE

INTERFACE
#TOOLING INDUSTRY

INDIAN TOOLING

INDUSTRY: Making the

move with technology

transformation

emergence of many sectors in India, I that are impeding the growth of Indian
see tooling companies diversifying to tool rooms:
other sectors as well to mitigate the • Indian tool makers face many
risk and expand the business. challenges concerning easy access to
finance.
• Digitation: After the pandemic • It is observed that the import duty on
when there were lockdowns, the tools is lower than the import duty
we all saw what benefits digital on the raw materials and bought-out
solutions can bring. I see, tooling components used in manufacturing
companies adopting more and more these tools.
digital solutions for their business • Duty-free moulds import from certain
operations. countries such as S Korea
• Toolmakers in other countries receive
• Skill development: Customers are state-sponsored incentives to explore
becoming demanding with every export markets but that is not the
DM SHEREGAR, passing day and to cater to the case in India.
President, TAGMA India demand we have to keep ourselves • In India, there is a severe lack of
updated with the latest technologies skilled workforce available for
Q. What are the current trends in and skills. employment in tool rooms
the Indian Tooling industry? • Lack of outsourcing ecosystem
The Indian tooling industry is in a high • Technology adoption: Now, many
growth phase, and I expect this to Indian companies are serving global Q. What policy supports Indian
continue in the coming days as well. customers that demand high precision tooling companies need from the
After the challenging COVID-19 time, I and fast turnaround and to meet government?
see the following trends emerging in the those requirements we must adopt Since the last few years, there has been
industry: the latest technologies. good improvement in terms of ease of
• Diversification: Global tooling doing business and many campaigns
industry is highly dependent on the Q. What are the various challenges such as ‘Make in India’, ‘Atma-nirbhar
automotive sector and the scenario is faced by the Indian tool makers? Bharat’ and PLI schemes on various
no different in India as well. With the There are currently 6 major obstacles industries are generating good business

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