The pandemic was a major issue for all machine tools companies between 2020 till March 2021. Post pandemic, most manufacturers including Hurco are now experiencing a spike in demand for machine tools in India. Many projects which were on hold due to Covid are being put in motion again. Many new projects are coming up as well, especially in the Aerospace, Medical and Defense sectors.
The manufacturing industry is driven primarily by consumer demand and there is a huge demand in the market at the moment, despite the apprehension regarding some variants still lingering globally. We all understand how to manage the pandemic now. Hence there is minimal chance of any complete lockdown returning to India. There will be a large increase in volume as there is a forecast of higher GDP and PPP (Purchasing Power Parity) in the coming months.
There has been quite an increase in the demand for machines in the last six months. Now there is no need to look behind. The situation is much better, our understanding is much better and the capabilities of Indian industries have become much more technology-oriented. We have a good bright future ahead of us. Therefore we are optimistic that we will witness the scale-up in manufacturing in the various segments in the coming years.
PLI Scheme for all Manufacturers
PLI (Production Linked Incentives) are very useful for consumers and businesses alike. The PLI schemes offer entrepreneurs an opportunity to scale up their business portfolios. It is a very good development that the Automobile and Auto Components sectors are also being included in PLI Schemes-linked growth schemes.
These schemes have been launched in keeping with the view of a new India’s vision of becoming ‘Atmanirbhar’ and to enhance the capability and expanse of India’s Manufacturers and focus on increasing exports.
These PLI Schemes are expected to enable the setting up of a wide supplier base for the global champions established under the scheme. And at the end of the day, those incentives will give customers more access to the new business which will definitely bring positive momentum to the market. All such schemes to support SMEs and MSMEs are always welcome.
Financial and Banking Assistance
This is one of the challenges that need to be addressed on a priority basis. Though there are multiple financial schemes available in the market, they are still insufficient as most of SMEs and MSMEs are still struggling for financial support.
Many opportunities are available, but most SMEs and MSMEs are not able to get the proper benefits out of those opportunities. It is a need of the day, especially for the machine tool market.
Bringing Innovation to its customers
Hurco as a company is always focused on bringing innovative solutions to its customers. One of our patented software – ULTIMOTION offers superior motion and jerk control, has a variable look-ahead function of 10,000 blocks with a block processing speed of 0.44mS.”
ULTIMOTION also has the capability of ‘rationalizing’ the tool path – enabling high-speed machining with exceptional control of acceleration and deceleration of the machine slides.
This results in reduced machining time increase surface finish and accuracy. All these controllers are 3/4/5 axis compatible allowing customers can use the machine with the 4th and 5th axes simultaneously which increases performance and productivity while maintaining the desired accuracies.
