Haryana based Romesh Vig is the founder and Chairman of Micron Precision Screws, considered as a true visionary in India’s Fastener industry. Romesh Vig’s unwavering commitment to producing precision fasteners within India’s borders not only propelled his company’s growth but also played a pivotal role in reducing the country’s reliance on imports in this vital sector. As a seasoned leader in the fasteners industry, Romesh’s journey stands as a compelling example of indigenous innovation and self-reliance.
With a remarkable 45-year journey in the fastener industry, Romesh Vig, the Founder of Micron Precision Screws, widely recognized as MPS Fasteners, emerges as a stalwart in India’s fastening sector. He commands immense respect, not only from customers but also from industry associates. In 1979, Vig embarked on his entrepreneurial journey by establishing Micros Precision Screws, setting a shining example of unwavering determination and entrepreneurial excellence in the Indian fasteners industry.
MPS Fasteners was founded with an ambitious vision – to evolve into a global brand, providing fastening products and services of international quality standards. Micron Group encompasses four manufacturing divisions: fasteners, agro implements, spare parts, and hydraulic fittings, offering a diverse range of products and solutions.
Sharvari Prayag had the privilege of conversing with Romesh Vig during the recently concluded India Fastener Show 2023 held at Autocluster, Chinchwad Pune. This prestigious event, organized by Future Market Events, witnessed MPS Fasteners as the proud Platinum Sponsor of its inaugural edition. The response they garnered at the event was truly gratifying, particularly from the dealer network and the automotive sector. MPS Fasteners’ commitment to advancing the fastener industry was evident through their significant role in this event, reaffirming their dedication to quality and innovation in the fastening domain.
From Service to Innovation: Romesh Vig’s Pioneering Journey
Romesh Vig embarked on his entrepreneurial journey initially by providing services, encountering formidable challenges in securing both the necessary infrastructure and capital for establishing a homegrown manufacturing unit. However, fueled by unwavering determination, Romesh’s ingenuity came to the fore within the following nine years when he introduced the revolutionary “Socket Head Cap Screw.” This innovation marked the beginning of his manufacturing voyage.
Romesh Vig reflected on this achievement with pride, stating, “We take immense pride in having transformed the manufacturing landscape. The Socket Head Cap Screw, once imported, is now proudly manufactured in India, contributing significantly to our nation’s economy.” This milestone was just the inception, as Romesh, along with MPS, went on to produce a myriad of fasteners, not only catering to the Indian market but also establishing a formidable presence in the international arena. Their journey continues to be characterized by innovation and dedication to the fastening industry’s growth, both domestically and globally.
Empowering Local Manufacturing: Championing ‘Make in India’
Romesh Vig enthusiastically champions Prime Minister Narendra Modi’s ‘Make in India’ initiative, emphasizing the importance of domestic manufacturing. He envisions India as a hub for precision fastener production and innovation. Vig proudly notes that they have developed over 100 indigenous precision fasteners, exporting them to the European market.
India’s true strength, Vig believes, lies in its vast population, now the world’s largest. This demographic dividend provides a unique opportunity for cost-effective manpower. Vig underscores the need to harness this strength by equipping people with the necessary skills to fortify the manufacturing sector.
As the fastener industry gains momentum in India, particularly within the automotive sector, Vig sees immense potential with the ongoing shift from traditional internal combustion engines (IE) to electric vehicles (EV). He reveals that MPS Fasteners is actively involved in developing transmission and suspension fasteners, aligning with the future needs of the industry.
India Fastener Show 2023: Bridging the Gap Between Dealers & Fastener Manufacturers
Romesh Vig exhibited unwavering confidence in the inaugural edition of the India Fastener Show 2023, a collaborative effort spearheaded by Siddharth Narain and Chaitali Davangeri of Future Market Events. As the Platinum sponsor of the event, MPS Fasteners’ trust in this endeavor yielded exceptional results. Romesh Vig expressed his satisfaction, saying, “Right from Day one, we received an outstanding response at the exhibition, especially from the backbone of the fastener industry, our valued dealers. They were eager to explore MPS Fasteners’ product range and were enthusiastic about representing us.”
Romesh Vig also revealed the favorable reception they received from the automotive industry, particularly significant as Pune is considered a major hub in the country. The India Fastener Show 2023 drew a substantial crowd from all corners of the nation, boasting significant participation from fastener and allied industries. Notably, Future Market Events also organized the Metal Forming Expo concurrently with the India Fastener Show, further enhancing the event’s impact and scope.
