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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Indian industry sets store by

Festo is a reliable partner in industry and in education and training India is one of the world's most strongly expanding national economies. With around 1.2 billion inhabitants, it is expected not only to become the most highly populated country worldwide by the middle of this century, but also to be in third place behind only China and the USA in terms of gross domestic product. India is thus acquiring increasing significance as an industrial nation. Festo has been represented on the Indian subcontinent since 1963, and since 1986 with its own national company; it is benefiting from the upswing in the Indian mechanical engineering industry and the growing demand for automation technology. “For several years, Asia has been one of the fastest-growing markets for automation technology; the leading countries here are China, Korea and India. And we are expecting this trend to CONTINUE,” says Desmond Teo, Senior Vice President Region Pacific Business. “Festo has had an annual compound average growth rate of 8 % in the Asia-Pacific region since 2010, with a rising tendency. We grew by 11 % in 2014 in comparison with the previous year, and we intend to grow further. We see a promising future for our business”, he says. India – a market of the future Festo India is making an important contribution to the development of the region. This is CONFIRMED by Rashmikant Joshi, Managing Director of Festo India: “The size of the Indian national economy, transformations in the age structure of the population and the relatively high level of economic growth make the Indian subcontinent an important market for the future. Despite the cautious forecasts for the Indian economy, Festo grew by 12 % last year alone.” Just a few years ago, there was seen to be no need for automation technology in India, with its seemingly inexhaustible supply of available workers and its low wages; today, by contrast, the market has a growth potential for automation amounting to far more than 10 to 12 % per annum. This is also borne out by the growth of Festo, which has amounted to 15 % on an average over the past ten years. Early recognition of demand Festo recognised the demand for automation technology at an early stage: the enterprise has been represented in India since 1963, and for almost 20 years it has operated its own national company in the prospering industrial zone of the south Indian city of Bangalore. With a broad range of services and individualised programmes in industrial education and training, the Indian national company was quick to secure market leadership and cooperates today with over 20,000 customers. Industry sets store by the “Make in India” campaign Nevertheless, in India some market barriers still remain to be overcome that are a hindrances to further growth. Lacking or inadequately developed infrastructure and the low standard of technical qualification for employees are stifling economic upswing and represent a challenge to the industry in the face of increasing worldwide competition. The new government of Prime Minister Narendra Modi and his “Make in India” campaign are giving rise to high expectations in India. This campaign will make it easier for foreign investors to produce in India, for example. The share of industrial production in the GDP is to increase from its current level of 15 % to 25 %. The demand for automation technology and for VOCATIONAL EDUCATION represented on the Indian subcontinent since 1963, and since 1986 with its own national company; it is benefiting from the upswing in the Indian mechanical engineering industry and the growing demand for automation technology. “For several years, Asia has been one of the fastest-growing markets for automation technology; the leading countries here are China, Korea and India. And we are expecting this trend to CONTINUE,” says Desmond Teo, Senior Vice President Region Pacific Business. “Festo has had an annual compound average growth rate of 8 % in the Asia-Pacific region since 2010, with a rising tendency. We grew by 11 % in 2014 in comparison with the previous year, and we intend to grow further. We see a promising future for our business”, he says. India – a market of the future Festo India is making an important contribution to the development of the region. This is CONFIRMED by Rashmikant Joshi, Managing Director of Festo India: “The size of the Indian national economy, transformations in the age structure of the population and the relatively high level of economic growth make the Indian subcontinent an important market for the future. Despite the cautious forecasts for the Indian economy, Festo grew by 12 % last year alone.” Just a few years ago, there was seen to be no need for automation technology in India, with its seemingly inexhaustible supply of available workers and its low wages; today, by contrast, the market has a growth potential for automation amounting to far more than 10 to 12 % per annum. This is also borne out by the growth of Festo, which has amounted to 15 % on an average over the past ten years. Early recognition of demand Festo recognised the demand for automation technology at an early stage: the enterprise has been represented in India since 1963, and for almost 20 years it has operated its own national company in the prospering industrial zone of the south Indian city of Bangalore. With a broad range of services and individualised programmes in industrial education and training, the Indian national company was quick to secure market leadership and cooperates today with over 20,000 customers. Industry sets store by the “Make in India” campaign Nevertheless, in India some market barriers still remain to be overcome that are a hindrances to further growth. Lacking or inadequately developed infrastructure and the low standard of technical qualification for employees are stifling economic upswing and represent a challenge to the industry in the face of increasing worldwide competition. The new government of Prime Minister Narendra Modi and his “Make in India” campaign are giving rise to high expectations in India. This campaign will make it easier for foreign investors to produce in India, for example. The share of industrial production in the GDP is to increase from its current level of 15 % to 25 %. The demand for automation technology and for VOCATIONAL EDUCATION NEWS NEWS NEWS April 2015 139 The Gedee Festo Mechatronic Centre (GTTI) in Coimbatore was already founded by Festo in 2010. This pilot project, initiated in cooperation with the Indian government, represented a decisive step towards the introduction of the dual EDUCATIONAL SYSTEM in India on the basis of the German model. Festo supports the Mechatronic Centre with its Modular Production System (MPS) for vocational education and training. Growth opportunities for the future Rashmikant Joshi takes an optimistic view of the future: “Indian companies are strongly expanding abroad, and foreign companies are increasing their investments in India. Whether a Korean car manufacturer invests in India or an Indian mechanical engineer expands into Southeast Asia – Festo must act globally to ensure that we remain a reliable partner and can meet the expectations of our customers. Festo intends to further consolidate its position in the Indian market in future, while also opening up new markets and business fields. The entertainment electronics industry, the biotech/pharmaceutical sector and the water, food and automotive industries all offer great potential for growth. Growth opportunities are likewise provided by the development of the infrastructure and sectors such as agriculture, education and the consumer goods industry.” Contact: Henriette Wielandt +49(711)347-57152 +49(711)34754-57152 wihe@de.festo.com Festo Media Service

 
     
 
   
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