The second edition of the International Hardware Fair India, backed by EISENWARENMESSE, commenced today at Hall No. 11, Pragati Maidan, New Delhi. The event, organized by Koelnmesse, highlights global standards and cutting-edge advancements in the hardware sector.
Featuring over 250 exhibitors, the fair includes international pavilions from countries such as China, Korea, Italy, and Taiwan and expects over 10,000 trade visitors from more than 35 nations. With India’s furniture hardware market forecast to grow at a CAGR of 15.49% from $3.04 billion in 2024 to $6.26 billion by 2029, the fair underlines the sector’s rapid expansion and potential.
The opening ceremony was graced by prominent figures such as Ashwani Kumar, President of the Federation of Indian Export Organizations (FIEO); Dr Ajay Sahai, Director General & CEO of FIEO; Oliver Frese, COO of Koelnmesse GmbH; Sebastian Rosito, Vice President of Trade Fair Management at Koelnmesse GmbH; and Milind Dixit, Managing Director of Koelnmesse Pvt. Ltd.
The exhibition showcases a broad range of products, including advanced hand tools, power tools, industrial hardware solutions, and specialized tools. Key participants include Alok International Pvt. Ltd., D P Garg & Co. Pvt. Ltd., De Neers Tools Limited, Gripwell Forgings & Tools, H.R. International, JK Files & Engineering Ltd., Sparkle Tools Pvt. Ltd., and many others.
Ashwani Kumar emphasized the Indian hardware sector’s significant growth, fueled by a supportive business environment, thriving startups, and increasing digital penetration. He noted that India’s hardware exports achieved a 15% year-on-year increase in 2023, reinforcing its position as a global player. He also highlighted India’s ambitious economic goals, aiming for a $5 trillion economy by 2027, supported by strategic initiatives and a young workforce. The event, with over 200 Indian exhibitors, provides a vital platform for product showcases, exploring new markets, and fostering collaboration between Indian and global buyers.
Dr Ajay Sahai shared insights into India’s export ambitions, targeting $2 trillion by 2030. With exports growing from $478 billion to $778 billion at an annual rate of over 8%, he projected a 14% CAGR to sustain this momentum. He emphasized India’s strategic advantages, including sectors outperforming global growth, government-backed initiatives like the Production Linked Incentive Scheme, and opportunities from shifting global supply chains. Free trade agreements with key markets such as the UAE, UK, Australia, and the EU are further expected to enhance export competitiveness.
Milind Dixit highlighted the transformation in India’s hardware and building materials market, driven by consumer preference for sustainable products and growing infrastructure investment. The sector’s robust growth is supported by government initiatives like “Make in India” and affordable housing projects. The DIY & Hardware Store segment is also expanding, with revenue projected to reach $245.20 billion by 2029.
Oliver Frese remarked on India’s emergence as a key player in the global hardware and building materials market, driven by rising domestic demand and export capabilities. He praised the International Hardware Fair India 2024 for fostering innovation and partnerships that propel the industry forward.
Supported by key industry associations such as the Jamnagar Factory Owners Association, Fastener Manufacturers Association of India, and Taiwan Hand Tool Manufacturers Association, the event underscores its role in uniting industry leaders and shaping the hardware sector’s future. With live demonstrations, innovative product showcases, and new product launches, the event emphasizes advancements driving the sector’s evolution.
As India leverages technological innovation and the Internet of Things (IoT), the hardware industry is poised for transformative growth, particularly in the furniture sector. Industrial manufacturing is now replacing traditional craftsmanship, creating opportunities for businesses and brands. The International Hardware Fair India 2024 stands as a crucial platform, accelerating innovation, collaboration, and growth in India’s hardware and furniture industries, steering them towards global prominence.
