FICO Delegation attends 11th Amtex-2018 (The Vision of Asia) at New Delhi

Ludhiana, July 8, 2018: FICO delegation under the Chairmanship of S.Gurmeet Singh Kular President FICO attended 11th Asian Machine Tools Exhibition Amtex-2018 (The Vision of Asia) at New Delhi. The edition has showcased the latest innovations and dedicated solutions that will address the growing needs of the machine tools industry from the Netherlands, Italy, South Korea, China, Germany, and Taiwan. The four-day event will specially focus on automotive, power, electrical equipment, textile machinery and consumer goods industry. The major highlights of this edition is the presence of three concurrent Shows, dedicated to Quality, Metrology, Tooling, Automation and Robotics. The inauguration ceremony was attended by dignitaries Shri K. Murali, Director, MSME- Technology Development Center, Shri R. Panneer Selvam, Principal Director, MSME- Technology Development Center, Mr. Satish Ranade, VP, Electronica India Ltd, Mr. Rakesh Agarwal, Managing Director, Laser Technologies Pvt Ltd, M s Linda, Global Sales Head, Jiangsu Daijin Laser Science Technology Co. Ltd, Mr. Cyril Pereira, Managing Director, Reed Triune Exhibitions Pvt Ltd, and Mr. Gregory Zaraisky, CEO, Reed Exhibitions India. As per Indian Machine Tools Manufacturing Association (IMTMA), the market size of machine tools sector was sized at USD 1.7 billion in 2017. The machine tool industry comprises of about 25% large players and the remaining 75% is dominated by small manufacturers and manufacturing companies. It has been estimated that the machine tool industry in India has the potential to reach $ 3-4 billion by 2020-2022. The global conclave encourages Indian manufacturers and discuss in depth the benefits of adopting new age machine tools with advanced technology that can accelerate the growth of manufacturing sector in India. R. Panneer Selvam, Principal Director, MSME- Technology Development Center while inaugurating the exhibition said, "AMTEX is a great platform to bring together industrialists and knowledge leaders from the machine tools and engineering sector. With India focusing on innovation and Indian products through initiatives like Make in India coupled with growth in manufacturing that are eventually boosting newer and unique Indian ventures. The reduction in Corporate tax to 25 % for turnover up to Rs 250 cr, would also benefit some of the major machine tool manufacturers in the country and contribute towards its growth." Machine tool Industries is the mother of industry, where innovations starts & An idea can change & Proved to be a turning point of the life of Industry said Gurmeet Singh Kular President FICO. Amongst present were Mr Gurmeet Singh Kular, S. Manjeet Singh Matharoo, S. Ranjeet Singh, S. Jasmeet Singh , S. Banepal Singh, S. Amandeep Singh, S. Bharpur Singh.