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I feel privileged to address the readers of Modern Manufacturing India (MMI) magazine, for the first time, after being elected as the President of Indian Machine Tool Manufacturers' Association (IMTMA).

India, this year, had many reasons to celebrate its National Sports Day, which it did with much fervor and gaiety. Ace Indian shuttler P V Sindhu redefined our country's sports history by becoming the first Indian to win a gold at Badminton World Federation (BWF) World Championships.

As one of the fastest growing economies in the world, India is one of the few bright spots in the world economy. The country which aspires to become a $5 trillion economy by the year 2024-25 with manufacturing sector alone contributing $1 trillion is expected to overhaul its manufacturing infrastructure. The auto industry, one of the major consumers of machine tools, is facing headwinds but we expect it to bounce back in the near future. Espousing technologies and solutions across the entire spectrum of industries along with optimized resource utilization will enable manufacturers to tide over the numerous challenges confronting them. The machine tool industry perhaps needs to explore more avenues such as defence and aerospace and make an impact there.

We are witnessing some challenges in the economy, especially in the automotive sector, which is undergoing some major disruption with the Government's push for electric vehicles and a slowing down in demand for petrol and diesel variant vehicles.

From visibility to striking new deals, exhibitions and trade shows offer opportunities no business would want to miss out on. It is a strategy that has withstood the test of time, playing a significant role in the success of most machine tool companies.

The year 2019 - 2020 is bringing in a lot of renewed hopes for India. The country has elected the NDA Government led by Prime Minister Narendra Modi with a thumping majority which sets it on a path for aspirational and inclusive growth. In one of his first meetings with central government secretaries since the formation of the government, the Prime Minister stressed the need for taking decisions to make India a $5 trillion economy with the manufacturing sector contributing around $1 trillion towards it.

The capital equipment industry makes for a highly niche market. Hence, the marketing strategies employed to tap the relatively smaller market should be impactful. To this end, sales engineers, who are the face of an organization, shoulder a big responsibility of building its brand and propagating it.

Indian Machine Tool Manufacturers' Association (IMTMA) is delighted to publish the July edition of its MMI magazine. Many thanks for your continued interest. Our MMI team with its intensive research and analysis strives to bring to you the latest information on the developments taking place in the manufacturing industry spread throughout India and beyond to your desk. This month's edition focuses on medical machining.

By now you must have gathered that I keep drawing parallels from everyday life to make my point. The truth is that there is a lot to be learnt from mundane occurrences. My attempt is to learn and spread the gained wisdom.Just like the other day, my niece of sunny disposition came back from the playground rather sullen. A high-handed older kid had not let her play football. The episode continued but with a turn of events. The little one returned to the playground, resolute to straighten the matter. Undaunted she presented her case, unfolding the cons of her absence from the team. Not only did she get in but was also made responsible to coach kids younger than her.

As your own MMI steps into another year of bringing out curated content for the manufacturing fraternity, we take the opportunity to thank all of you – advertisers, contributors, and the huge reader base – for your continuous encouragement and engagement with us.