India is Booming -
EMO 2023 to Highlight Promising Business Opportunities
India is now the most populous country on Earth with more than 1.4 billion inhabitants. It is also the largest democracy and has the fifth largest economy. And the economy is growing fast. The British economic research institute Oxford Economics is forecasting growth rates of around 7 percent per year for industry and for the economy as a whole over the next four years. It comes as no surprise that heads of state from all over the world are frequent visitors in New Delhi. "Alongside China, India has become a much sought-after economic partner for the machine tool industry," says Carl Martin Welcker, General Commissioner of EMO 2023, ahead of the show.
India is currently the seventh largest machine tool market in the world.n This is why Welcker, together with Ravi Raghawan, President of the nIndian Machine Tool Manufacturers' Association (IMTMA), is hosting the nEMO "India Opportunities - growth and potential of the Indian machine ntool market" conference at the Hannover Exhibition Center on September n20 this year. "The Indian manufacturing industry is on the cusp of nexperiencing remarkable growth in the coming decades, and machine tools nwill play a key role in shaping that progress," explains IMTMA Presidentn Ravi Raghavan. The aims of the conference, he says, are to highlight nthe enormous opportunities offered by India's industries of the future, nand to pave the way for business partnerships. India also holds great npotential for international machine tool manufacturers, as the country'sn own production levels are just starting to take off. Acutally, 45 nIndian manufacturers are using EMO Hannover 2023 to promote themselves nand their offerings to the world. "The Indian machine tool sector is ncurrently experiencing a surge in expertise and innovation, making it ann ideal partner for leading companies in the sector and their suppliers,"n adds Raghavan. India's total demand for machine tools was put at 2.75 nbillion euros in 2022. About 60 percent of this was met by imports. The ncountry's largest suppliers include China, Japan, Germany, Italy and then USA.
Diversification of Supply Chains
These five countries will also be major exhibitors at EMO Hannover n2023 from 18 to 23 September. "That's why we expect a lot of interest inn our conference. After all, many companies are looking to diversify ntheir supply chains and are keen to find alternatives to existing nsolutions," emphasizes Carl Martin Welcker. The panel will feature nexperts from key client sectors such as the manufacturing and automotiven industries, and consultants with expertise in doing business in India. nThey will be discussing the growth prospects of the Indian industry in ndifferent formats. They will also be talking about business nopportunities as well as the challenges facing the automotive industry. nThe event brings together international exhibitors and visitors, nallowing them to network and exchange ideas on doing business in the nIndian market. This is a prime example of EMO Hannover living up to its nclaim of providing an information and dialog platform which covers all ntopics relating to production technology. The Future of BusinessnFuture Insight event will also be taking a close look at promising growth markets.
The conference will be held from 11:00 to 14:00 on 20 September 2023 nin Room 3B at the Hanover Exhibition Center. The admission fee is 85 neuros, which also includes an admission ticket to EMO Hannover.
Images: R. Eberhard, messekompakt.com, EBERHARD print & medien agentur gmbh
Source: Deutsche Messe AG
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