The Indian machine tool industry clocked Rs 11,300 crore in FY 13 and IMTMA envisages growing the industry to Rs 23,000 crore by 2020. Where do you see this growth coming from? What role will major indigenous players like Jyoti CNC have in this growth?
We are entering into new Bull Run across the industry spectrum. Machine tool being one of the mother industries of manufacturing will witness a new buying cycle and investment initiatives from all other industries. Again, the formation of the stable government and instant signals to the manufacturing seems to be highly optimistic. We believe that the growing demand of machine tools presents a significant opportunity for us. IMTMA in its vision document and perspective plan expects machine tool consumption will reach Rs293 billion in 2020.
The key user industries such as defence, aerospace, automobiles, auto components and power sector are set to fuel the growth of Indian machine tool industry. We intend to leverage our technological expertise, design capability and integrated operations to offer quality products in a cost efficient manner to Indian industries which are currently meeting their requirement through imports.
As a business strategy, you have had a big focus on the exports market. How are you doing on that front? Has addressing different market needs helped Jyoti evolve more in terms of technological innovations?
We have charted our path to be one of the Top 10 global machine tool manufacturers by 2020 and thus have focused to penetrate in international markets. Jyoti-Huron has its strong sales and service network in Europe, Canada, USA, Turkey, Iran, South Africa, Argentina and Australia.
Catering the machine tool requirements along with customised solution to these international markets have considerably helped and motivated us to be more competitive in terms of bringing more and more technological innovations, quality, reliability and productivity in our machines.
We have been able to increase exports by selling entry level machines in European market by using well established sales network of Huron across Europe after the strategic acquisition. Again we intend to continue to harness the synergies between our Indian and International operations to consolidate our position as an international player in the machine tool industry.
