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Auto sector driving tooling biz growth
Tool and Gauge Manufacturers Association - India (TAGMA-India) said that automobile industry has been driving growth of tooling industry in the country.
Hyderabad: Tool and Gauge Manufacturers Association India (TAGMA-India) said that automobile industry has been driving growth of tooling industry in the country. “The automobile industry remains a big driver for the tooling industry, with 65 per cent of all tooling done for this sector. It is thus little surprise to see the demand for automobiles also spur on the tooling industry,” the industry body said in a release.
According to it, the country’s dies and moulds sector, another name for tooling sector, grew by 6.2 per cent in 2014-1b5 to Rs 14,647 crore when compared to the previous fiscal. Of this, the exports accounted for Rs 2,869 crore.
While the Indian tooling industry is consistently growing, the country is home to a very few number of large and foreign-invested tooling producers while a majority of dies and mould makers operate in small to medium space. The industry body recently organised 10th biennial Die & Mould India International Exhibition at Bangalore for four days.
