The Tool and Die industry in India has been evolving over the years and today plays a very crucial role in the overall economy of our country. The sheet metal tools in India and die industry plays an important role in the development of other major industries also, including manufacturing, electronics, healthcare, as well as packaging. If the tool and die industry stop advancing itself, it could have a really adverse effect in all the other sectors, including a drop in the Indian Economy. However, the industry has been flourishing consistently over the past three decades, making the best out of globalization as well as outsourcing.
Even if we try to have a look at the balance sheets of the past five years of the industry, it has shown a whopping growth of more than 16%. This does not only justifies the position of the Indian Tool and Die Manufacturing Industry but also promises a bright future for all the press tool manufacturers out there. Moreover, the integration of advanced technologies such as AI, 3D modeling, and solutions has given the industry an exceptional edge to enhance their product quality as well as the quantity. The increasing competition in the global market has not only thrived Indian manufacturers to adopt the latest technologies but also to produce better quality products at cheaper prices as compared to others. This gives another cutting edge to the Indian manufacturers, along with the support provided by the government to promote die tool manufacturers through the Make in India platform.
The existence of huge scale tool rooms in India is very limited. However, the mid-sized as well as the small-sized manufacturers that exist in the Indian market are also capable enough to compete with the International quality tools and dies and fulfill the required market needs. Moreover, with the initiation of high-grade training institutes, the awareness, as well as the good quality job opportunities in the field, is showing positive growth. The predicted growth in the industry is enormous, keeping in mind the development of the automotive industry, which is the major consumer to tools and die goods in India.
0
