The Hindu BusinessLine: July 17, 2014
Kolkata: Siemens on Wednesday announced the launch of operations at the Technology & Application Center (TAC) at Peenya, the industrial area of Bangalore.
This facility, the first in India by Siemens, will enable machine tool manufacturers and end users to improve productivity through testing machining techniques in real-world conditions.
Spread across 6,500 square feet, TAC will allow Indian machine tool manufacturers and users to get a hands-on exposure to the latest CNC technologies and solutions including a simulation tool from Siemens and its partners through training.
According to the Indian Machine Tool Manufacturers' Association (IMTMA), the current market size of the machine tool industry stands at $2,050 million (around Rs 12,300 crore) of which the domestic production makes for only around 33 per cent of the total consumption.
Driven by demand from key end-user segments, such as automobiles and consumer durables, the industry is fast moving towards increasingly sophisticated CNC machines.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.