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Mitsubishi Electric plans capex investment in India’s CNC market
Industry News- Feb 10,25
Additionally, rising demand in general engineering, medical, agriculture, and consumer products is contributing to the market’s expansion.
Mitsubishi Electric is considering a capital expenditure (CAPEX) investment in India’s growing CNC market, as the country's machine tools industry expands at an annual rate of 20%. Masaya Takeda, General Manager- CNC Systems, revealed that the division has tripled its business growth since 2019, leading to strong investments in India. However, he did not disclose specific investment details.
Takeda highlighted India’s increasing role in global manufacturing, driven by lower production costs and supportive government policies. While India’s CNC demand currently trails behind China and the US, its contribution to the global market is expected to grow significantly in the coming years.
The CNC sector’s growth is being fuelled by diverse industries, with automotive manufacturing remaining a key driver. Additionally, rising demand in general engineering, medical, agriculture, and consumer products is contributing to the market’s expansion. Post-Covid, the medical sector has seen increased adoption of CNC technology in applications such as syringe and orthopedic implant manufacturing.
To strengthen its footprint, Mitsubishi Electric aims to enhance partnerships with Indian original equipment manufacturers (OEMs) catering to both domestic and global markets, emphasising localisation and technological advancement.
(Business Line)
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