Italian plastic equipment makers eye Indian markets
ndia is emerging as an attractive market for Italian companies across the segments. After witnessing some strengthening of co-operation between the two countries in auto components and leather segments, now Italian plastics equipment makers are keen on promoting their technoligies and tapping the opportunities in India.
“Italian plastic production and processing machinery industry is well-recognised for its technology in the Western world. The companies are keen to promote their high end technology in the areas of injection moulding, a manufacturing process for producing plastic materials, as India is now part of the global economy and Indian companies will be upgrading their technologies to be globally competitive,” Augusto Di Giacinto, trade commissioner, Italian Trade Commission, Mumbai told Financial Chronicle at a meeting in CIPET (Central Institute of Plastics Engineering and Technology).
In co-operation with Assocomaplast (Italian Plastics and Rubber Processing Machinery and Moulds Manufacturers’ Association that represents 173 companies), Italian Trade Commission in India has been promoting Italian technologies and has so far spent about 2.5 lakh euros for these activities in India,” he added.
“Though this technology (called Hot Runner System) of Italian companies is little expensive, it helps goods manufacturers achieve reduction in wastages, lower cycle time and reduction in use of energy over a long term. The technology is available in India. However, only a few companies use the same. Nevertheless, with lot of focus given to quality and cost-efficiency, several companies in India are evincing interest to go for this technology,” D H Raiker, deputy director, CIPET said.
To facilitate co-operation between the Indian and Italian companies in plastics and rubber equipment industry, the Italian Trade Commission will be taking a delegation from India to participate in the Plast’09, an international exhibition for plastics industry, to be held in Italy by the end of this month.
The Italian plastic and rubber equipment industry was estimated at 4.1 billion euros for 2008. The Italian industry garners over 60 per cent of their turnover from foreign markets. It has forecast lower turnover in 2009 due to global downturn and is looking to diversify into new emerging markets to sustain the growth levels.source:- worldscrap.com