The Indian Machine Tool Manufacturers' Association (IMTMA) held its 73rd Annual General Meeting (AGM) at the Bangalore International Exhibition Centre (BIEC). Indradev Babu, Managing Director, UCAM Private Limited was elected as the new President of IMTMA.

Indradev Babu will P. Ramadas, Managing Director, Ace Manufacturing Systems Limited as IMTMA's President. Ravi Raghavan, Managing Director, Bharat Fritz Werner Limited was elected as the new Vice President of IMTMA.

The new Executive Committee of IMTMA for the year 2019-2020 was also formed.

Earlier, in a special session at the AGM, Kamal Bali, President and Managing Director, Volvo Group India Private Limited, spoke about the current economic downturn as well as the opportunities in store for the auto sector. He said that the slowdown that we see in the auto sector is cyclical and the industry should continue its efforts digitalization, innovation and providing solutions that are economically and environmentally viable.

Elaborating further he said that industry should move from the earlier definition of VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) towards a new definition of VUCA, i.e.  (Vision, Understanding, Clarity, and Agility).

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