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Sandvik Coromant, the metal cutting tools expert, has reflected on the achievements and contributions of its female engineers, who continue to drive excellence in the industry on the occasion of Women in Engineering Day on June 23.

Despite 2023 being a challenging year for manufacturers, global manufacturing output is set to achieve a compound annual growth rate of three percent between now and 2027, according to technology insight business Interact Analysis. Here, Helen Blomqvist, President, Sandvik Coromant, the metal cutting tools and manufacturing solutions expert, explores how manufacturers can embrace current industry trends to tackle challenges and remain resilient in 2024 and beyond.

India began the financial year 2024-25 on an encouraging note with leading institutions including the International Monetary Fund (IMF) projecting a strong 6.8 percent growth despite the ongoing geopolitical scenario. Also, the Reserve Bank of India (RBI) projects a GDP growth of 7 percent for the current fiscal year that started from April 1, attributing it to consumption demand and private capex spending.

Dear Readers, With many industries shifting their base to India in recent years, the country has become a center point for manufacturing. Global giants like Apple (phone manufacturing), Tesla (automobile manufacturing), and Foxconn (electronics manufacturing) are prime examples

A couple of decades ago, it was almost unthinkable for the Indian Manufacturing sector to rise as a global hub of production activities. Cut to the chase, today the sector is redefining the country’s economic landscape. The nation's steadfast commitment to industrial growth is drawing global investments.

The manufacturing industry faces a confluence of challenges: rising material costs, supply chain disruptions, and ever-evolving customer demands. In this turbulent environment, manufacturers are actively seeking technological solutions to bolster their resilience, efficiency, and competitive edge. The synergistic combination of artificial intelligence (AI) and automation represents the ‘ultimate antidote’ for manufacturers seeking to unlock peak efficiency, performance, and productivity.

The German car company BMW ran an ad featuring the Dutch Engineer and Kinetic Artist Theo Janson, a few years back. In the ad Janson says, "The walls between Art and Engineering exist only in our minds. And only a few have the imagination to see beyond them". 

The Machine Tool industry, a pivotal player in global manufacturing, stands on the brink of a revolutionary transformation driven by Artificial Intelligence (AI). This integration marks a significant departure from traditional manufacturing practices, heralding an era of smart manufacturing that surpasses the realms of mere automation.

Dear Readers, When it comes to attaining manufacturing excellence there aren’t any pre-defined success mantras. Innovations too do not happen by taking recourse to shortcuts. The herculean efforts that a multidisciplinary team of engineers and researchers put into developing a new technology while staying away from public glare culminate in a product finding the light of day.

In recent years, India has been the cynosure of all eyes with its ever-improving economy. As per a report by S&P Global Market Intelligence, India’s nominal GDP is slated to reach around US$7.3 trillion by 2030. By then, it may overtake Japan and Germany, becoming the world’s third-largest economy by the close of the decade.