Demand for machine tools on rise in many sectors: Industry official
The demand for machine tools has been increasing among many industries including aerospace, defence, infrastructure, railways, and power, industry officials said here on Wednesday.
There has been a strong rebound in domestic production with annual growth rates, as per the index of industrial production (IIP) becoming positive in FY2021-22 after showing a negative growth due to the covid-19 outbreak.
The production in the industry has seen an estimated 40 per cent year-on-year growth in FY2021-22 while consumption recorded a 30 per cent rise in the same period.
Senior leaders of the industry led by Ambattur Industrial Estate Manufacturers Association (AIEMA) President T Nalangilli, ACMEE Chairman K Sai Sathya Kumar, ACMEE convenor P S Ramesh were here to announce the 15th edition of ACMEE 2023 scheduled to be held between June 15 to 19 in Chennai.
ACMEE stands for -- Automobile and Ancillaries, Consultancy and Services, Machinery and Machine Tools, Electrical and Electronics, Energy