Guest of Honor Address : Mr. Sundar R, VP - Function Lead -Procurement, Hyundai Motors India
Summary
TLDRIn this keynote, Mr. Sundar R., Vice President of Hyundai Motors India, highlights the critical role of the tooling and gauging industry as a foundation for innovation, precision, and manufacturing excellence. He outlines global and Indian market trends, emphasizing the rapid growth driven by electric vehicles, automation, and Industry 4.0 technologies. Mr. Sundar underscores India’s emergence as a manufacturing powerhouse, fueled by government initiatives, sectoral diversity, and self-reliance ambitions. Collaboration, digital integration, sustainability, and precision engineering are presented as key strategies for future competitiveness, with every detail—from micro components to complex systems—contributing to India’s journey toward global manufacturing leadership.
Takeaways
- 🌏 India is the fourth largest and fastest-growing economy, signaling accelerating manufacturing and innovation.
- 🚗 The global tooling market was valued at $272B in 2024 and is projected to reach $483B by 2033, with the automotive sector contributing over 52%.
- 🤖 Industry 4.0 technologies, including AI, IoT, digital twins, and automation, are transforming tooling into intelligent and adaptive systems.
- 🔋 The rise of electric vehicles is redefining tooling requirements, demanding precision tools for battery packs, lightweight materials, and complex drivetrains.
- 🌱 Sustainability initiatives and circular economy practices are increasingly shaping the tooling industry.
- 🇮🇳 India’s tooling market is projected to grow from $18.8B in 2024 to $32.9B in 2033, driven by automotive, aerospace, electronics, and diverse sectors.
- 🏛️ Government initiatives like PLI schemes, National Manufacturing Mission, and Viksit Bharat 2047 are strengthening domestic production and reducing import dependency.
- 🤝 Collaboration among OEMs, Tier-1 suppliers, and tool makers is essential for scalable, reliable, and precise tooling solutions.
- 📊 Global competitiveness requires lean practices, robust supply chains, digital literacy, skill development, and benchmarking of international standards.
- 🚀 India is not just producing products but building possibilities, demonstrating precision engineering from micro-components to lunar missions.
- 💡 Innovation, precision, and agility are central to future-ready tooling, supporting India’s vision of becoming a self-reliant, globally competitive manufacturing hub.
Q & A
Who delivered the keynote speech at the international tooling and gauging event?
-The keynote speech was delivered by Mr. Sundar R., Vice President, Function Lead Procurement, Hyundai Motors India.
What is the central theme of Mr. Sundar R.'s speech?
-The central theme is the critical role of tooling and gauging in driving innovation, precision, and growth in the automotive and broader manufacturing sectors, with an emphasis on collaboration, technology adoption, and India’s rise as a manufacturing hub.
How does the global tooling market look in terms of growth and future projections?
-The global tooling market was valued at approximately $272 billion USD in 2024 and is projected to reach around $483 billion USD by 2033, growing at a CAGR of about 6.6%, with the automotive sector contributing over 52%.
What are the key drivers of growth in the global tooling industry?
-Key drivers include Industry 4.0 technologies like AI, IoT, and automation; the rise of electric vehicles requiring precise tooling; diversification of global supply chains; increased use of CNC machines and robotics; and sustainability trends promoting eco-friendly and circular economy tooling systems.
What are the expected trends and growth projections for the Indian tooling industry?
-India’s tooling industry is expected to grow from USD 18.8 billion in 2024 to USD 32.9 billion by 2033, with a CAGR of around 7.3%, driven primarily by the automotive sector, domestic manufacturing initiatives, supply chain strengthening, and government policies promoting self-reliance and investment.
Which government initiatives are shaping the future of India’s tooling industry?
-Key initiatives include Make in India, Atmanirbhar Bharat, Samarth Udyog 4.0, the PLA scheme for rewarding innovation, and potential future subsidies to stimulate demand in automotive, electronics, and renewable energy sectors.
What is the significance of collaboration in tooling and manufacturing, according to the speech?
-Collaboration between OEMs, tier-one suppliers, and tool makers is essential to create precise, scalable, and reliable tools. Early design involvement, digital platforms, and smart manufacturing help ensure quality, innovation, and global competitiveness.
How does India’s manufacturing and innovation landscape support its global ambitions?
-India is the largest rail coach manufacturer, second largest mobile manufacturer, third largest automotive market, and fourth globally in home appliances. The country is transforming into a self-reliant manufacturing hub with advanced aerospace and precision engineering capabilities.
What role do technology and skill development play in future-ready tooling workflows?
-Technology adoption, digital literacy, smart documentation, and skill development are critical to ensure consistent quality, reliability, and innovation. Future-ready workflows balance cost and performance, integrating tools with Industry 4.0 practices for agility and resilience.
Why is sustainability emphasized in tooling and manufacturing practices?
-Sustainability ensures eco-friendly production through circular economy models, energy-efficient processes, low-carbon materials, and transparent supply chains. These practices build long-term value, trust, and global alignment with environmental goals.
What is the key message about India’s approach to manufacturing and tooling?
-India is not just building products; it is building possibilities. Precision, innovation, collaboration, and strategic government initiatives are driving India to become a globally competitive and self-reliant manufacturing powerhouse.
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