Sandvik Coromant Reflects on India’s Manufacturing Surge in 2023

As of 2023, India’s manufacturing sector employs nearly 36 million people. This is no surprise considering that manufacturing production in India jumped 9.3 percent year-on-year in August 2023, up from 4.6 percent growth in the previous month. As another year draws to a close, Sunil Joshi, President, Sales, India, Sandvik Coromant—a metal cutting specialist—reflects on India’s achievements in 2023 as well as its own.

A year of success

India has seen some significant achievements this year, especially within the aerospace sector. For many years, US and China have dominated the global aerospace market, but now India is demonstrating a significant presence within the sector. In August 2023, India became the first country to successfully land on the south pole of the moon, with the Chandrayaan-3 spacecraft touching down on August 23 after a 40-day journey. Not only was it the first country to make it to the south pole of the moon in one piece, it also marks India as the fourth country ever to visit the moon. Following this achievement, India is already planning its next ambitious goals: building an Earth-orbiting space station by 2035 and putting an astronaut on the moon’s surface by 2040.

Elsewhere, the nation is showing progress in the electric vehicle (EV) market too. Firstly, India has set a bold objective to elevate the adoption of EVs. By 2030, the country aims to reach a 30 percent market share for EVs in private cars, 70 percent in commercial vehicles, 40 percent in buses, and 80 percent in two-wheelers and three-wheelers. This translates to an estimated total of 80 million EVs on the roads. Striving towards this, by September 2023, there had already been more than 1 million electric vehicle sales in India—a milestone that took the entirety of 2022 to reach. And automakers are taking notice. Elon Musk, Founder, Tesla, is said to have his eye on the India market, reportedly stating that Tesla will be in India “as soon as humanly possible” after meeting with Indian Prime Minister Narenda Modi in the autumn of this year.

Striving for a sustainable sector

Reflecting on the year, 2023 has also seen a number of large achievements for Sandvik Coromant. While we have long recognized the impact that the manufacturing and production sector has on global carbon emissions, 2023 has seen more effort in tackling sustainability issues than ever before. In September, our net-zero target was officially validated by the Science Based Targets initiative (SBTi). This initiative provides guidance on emissions reduction and net-zero targets in line with climate science, aligning with the objectives of the Paris Agreement and the United Nations Sustainable Development Goals (SDGs).

Sandvik Coromant is fully dedicated to achieving net-zero emissions. This involves implementing strategies to reduce emissions and mitigate the environmental impact of our operations. In line with SBTi guidance, the company has categorized greenhouse gas emissions into three scopes. By 2035, Sandvik Coromant aims to achieve net-zero for scopes one and two, which involve emissions directly from operations and those indirectly from heating and power. For scope three emissions, which include activities outside of our facilities like raw material production and supplier network emissions, the target is to achieve net-zero by 2050.

Secondly, Sandvik Coromant is working to become more than 90 percent circular by 2030. By adopting innovative approaches and technologies, we aim to optimize resource usage and minimize waste throughout our value chain. Our buy-back scheme for recycling used carbide tools forms an important part of this circularity strategy. The company’s third goal relates directly to people, with a pledge for women to make up a third of its management team by 2030.

Besides these targets, we have taken numerous positive steps towards creating a manufacturing space that is both responsible and sustainable by working on various projects in India throughout 2023. This includes the inauguration of the fourth wastewater treatment plant in Pune in March 2023, facilitated in collaboration with Pimpri-Chinchwad Municipal Corporation (PCMC). The wastewater treatment plants are significant because they recycle thousands of liters of water per day that run throughout the industrial city.

Manufacturing wellness

In September 2023, Sandvik Coromant took on a new identity and coined the term Manufacturing Wellness. With this new identity, we aim to cultivate a culture of healthy manufacturing practices while fostering the growth of sustainable enterprises.

Our new brand identity focuses on nurturing eight manufacturing habits. The first is taking a holistic approach by focusing on the most impactful steps and eliminating constraints to pave the way for success. Embracing new technology encourages an openness to the quick adoption of new developments in machining, digitalization, and tooling technology. A no-brainer, the third habit is to choose a sustainable path by taking the lead in sustainable manufacturing.

Going hand in hand with choosing a sustainable path is the next habit—to eliminate waste. A key element in efficient and sustainable manufacturing is to eliminate anything that does not add value or contribute to the output.

The fifth habit, unlocking potential with data, leans on the use of data to increase transparency, identify improvements, make the right decisions, and accelerate productivity from CAD to delivery. Next, Sandvik Coromant recognizes that success is more achievable when we lean on each other for wisdom and knowledge, and there is power in partnerships.

The seventh habit developed focuses on developing your people. Elevating your business depends on the ability to attract, develop, and retain talented people who want to make a difference, which is why focusing on employees is crucial. Lastly, Manufacturing Wellness will highlight the need to automate for success and understand the impact automation has on cutting costs, increasing quality, and accelerating success.

From aerospace to electric vehicles, India has thrived in 2023, but that doesn’t mean it’s time to slow down. As 2024 rolls in, manufacturing companies must assess how they can make positive changes that will contribute to a healthier and more productive manufacturing space. As we enter 2024 with a new brand, Sandvik Coromant will continue driving its vision for the manufacturing sector to help shape the future for our people, partners, and customers.

Image Source: Sandvik Coromant