Digitalization Support SMEs In Machine Tool Industry

Small and medium enterprises (SMEs) form the backbone of the Indian manufacturing industry. They contribute 38 percent to the nation’s GDP, 37 percent to its manufacturing output and 40 percent to its exports. Moreover, the segment is always buzzing with innovations. Companies are constantly transforming themselves and reinventing business models to stay one step ahead. 

As the demand for high-tech and efficient machines in the industry rises, digitalisation of the production process becomes the key to higher productivity, flexibility, and efficiency, as well as simple operability and the possibility of permanent optimisation. While traditional manufacturers use various tools for milling, turning, grinding, and other applications, digitalisation is radically and sustainably changing the production environment and becoming an indispensable part of business. Very soon, it will be the new normal.

India’s machine tools industry is expected to play a key role in accelerating this manufacturing growth as they are a strategic pillar of the manufacturing industry. Machine tools industry are pivotal to the augmentation of various discrete manufacturing segments such as automobiles, defence, railways, plastic machinery, electronics, white goods etc. It will have a huge role to play in the Government’s flagship programme Make in India. 

The Indian machine tool industry comprises of about 25 percent large players and the remaining 75 percent is dominated by small manufacturers and manufacturing companies. 

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