Demand for machine tools on rise in many sectors: Industry official ...Middle East

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Demand for machine tools on rise in many sectors: Industry official
source : Business Standard ( Middle East ) () 39
The demand for machine tools has been increasing among many industries including aerospace, defence, infrastructure, railways, and power, industry officials said here on Wednesday. There has been a strong rebound in domestic production with annual growth rates, as per the index of industrial production (IIP) becoming positive in FY2021-22 after showing a negative growth due to the covid-19 outbreak. The production in the industry has seen an estimated 40 per cent year-on-year growth in FY2021-22 while consumption recorded a 30 per cent rise in the same period. Senior leaders of the industry led by Ambattur Industrial Estate Manufacturers Association (AIEMA) President T Nalangilli, ACMEE Chai

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