The Indian Machine Tool Manufacturer's Association (IMTMA) celebrated 43rd year of IMTEX and inaugurated IMTEX FORMING 2012 and Tooltech 2012, with an extravagant inaugural ceremony in the midst of several celebrated industry professionals who graced the occasion with their presence.

The six-day forming exhibition starting from 19th January 2012 at BIEC in Bangalore was inaugurated by Dr K Kasturirangan, Member of Planning Commission - Government of India; Mr Jamshyd N Godrej, Chairman Exhibitions and Mr Vikram Sirur, President - IMTMA.

Addressing the inaugural ceremony, Chief Guest Dr Kasturirangan said, "One of the most important strategy of the Government of India is to support in bringing more and more innovation to the various processes, manufacturing and operations in various segments of national endeavour. As declared by the government earlier, this entire decade would focus on innovation."

Also talking on the 12th 5-year plan he added, " A number of initiatives are identified to realize manufacturing growth of much higher levels than the past. These initiatives are built on the paradigms of improving typical infrastructure, integrating into the global networks, special focus on economy, skills and reforms in the governing process. Quick Highlights of the 12th plan are Manufacturing sector growth of 12 to 14% over the medium term which is 2 to 4% differential over the medium growth rate in the overall economy, ultimately leading to manufacturing contributing 25% of the GDP by the year 2025. Secondly, improving the rate of job creation and thirdly, the domestic value addition and technology depth in manufacturing"

IMTEX FORMING 2012 features over 500 exhibitors and 600 machine tools weighing 1,000 tonnes with a total value of all exhibits to be approximately Rs 1000 million marking an increase of around 40 % over the last Forming exhibition. With 24 countries in the segment of machining tools exhibiting, and group participation from China, Germany and Taiwan, IMTEX FORMING 2012 is ready to take the forming manufacturing sector to the next league.

IMTEX FORMING 2012 focuses on high end forming technology for sectors like defence, automobile, medical engineering and others. It showcases latest trends in forming technologies and innovations, which are vital for companies to adopt in order to keep up with the demands and overall competition.

Addressing the media, Mr Jamshyd N Godrej, Chairman Exhibitions said, "IMTEX FORMING 2012 focuses on emerging segments where demands exist today and in vast volumes. It is a manifestation of cost effective alternatives to conventional metal working solutions. This exhibition encourages the companies to move up the value chain towards paradigm shift - in tune with market realities. With over 40% international participation, the exhibition provides a unique platform for the machine tool fraternity to meet and share information about best practices, competition and latest in the industry".

Sharing his views on IMTEX FORMING 2012, Mr Vikram Sirur said, "India has been gradually emerging as a global manufacturing hub of tool and machineries and it is estimated that it is soon to join the list of top five global machine tool markets in next five years. For this to be achieved, production needs to grow at an average CAGR of 25% to increase market share to 50% plus. Hence, it is vital to close technology and product gaps, create new capacities, accelerate technology acquisitions and improve skill levels. And to channelise this, IMTEX provides a perfect apex forum for manufacturing industry to share new techniques, forge partnerships and harness business relationships".

The inauguration was followed by a Ribbon cutting ceremony at the Exhibition Hall, which opened the doors to the IMTEX FORMING 2012 & Tooltech 2012.