IMTMA Supports Indian Machine Tools for MSME Tool Rooms

Recently, the Ministry of Micro, Small and Medium Enterprises (MSME) with a view to modernize Tools Rooms and Training Centers had floated a tender with the assistance of the World Bank to acquire CNC Machines, Measuring Instruments and Accessories. 

Indian machine tool manufacturers had bid for this tender. However, none of the Indian machines offered were selected due to some minor deviations from the tender specifications, while international vendors were selected.

In this context, IMTMA is working closely with the Ministry of MSME and other government departments requesting a reconsideration of the offers submitted by Indian manufacturers, who are members of IMTMA. We are hoping that our request will be considered.

About IMTMA

IMTMA was formed in 1946 the year before India got its independence when around 20 machine tool manufacturers joined hands to form an Association. Over a period of over seven decades it has grown in size to have more than 450 members representing around 90% of the organized machine tool and allied equipment manufacturers as on date.

Today, IMTMA is the apex body and single point of contact for the entire machine tool industry of India and plays a critical role in the development of the metalworking industry.

A not-for-profit association, IMTMA’s initiatives range from government advocacy to industry and export promotion, trade fairs and events, training and seminars, technology missions, publication of various industry and technical writings, structuring of regional councils, and development of clusters.

Are layoffs raising? Reports say 9,000 job vanishing each day

More and more people are becoming unemployed this year, with nearly 9,000 jobs vanishing worldwide on an average each day in January.

As the financial turmoil continues to rattle world economies, layoffs so far this year have crossed the 2,77,000 -mark with a stunning 80,000 job cuts announced January 26.

Right from electronics to telecom to pharma sectors, about 9,000 jobs were lost on an average every day this month.

Among the entities, construction machinery manufacturer Caterpillar, Japanese electronics major NEC and pharma giant Pfizer have announced over 20,000 job cuts each.

Dutch entities - electronics firm Philips and financial services company ING - together would be axing 13,000 jobs in the coming months.

Caterpillar, Pfizer, telecom firm Sprint Nextel Corp and home improvement retailer Home Depot together accounted for 61,000 lay-off announcements on January 26. The total job cuts announced on that day worldwide had crossed 80,000.

The bankruptcy of American electronics retailer Circuit City is expected to affect 30,000 employees whereas aluminium manufacturer Alcoa would be laying off 13,500 people.

Further, Indian conglomerate Tatas-owned UK steel maker Corus would be reducing its workforce by 3,500.

Other entities which unveiled plans to bring down headcount in January include TDK (8,000), BHP Billiton (6,000), Ericsson (5,000), Corning (4,900), Motorola (4,000), Texas Instruments (3,400), Honda (3,100), Kodak (3,000), Ford Motor (1,200) and Harley-Davidson (1,100).

Companies worldwide are bringing down their workforce as they explore ways to battle the dire economic situation. With consumer and business spending being crimped, many of the developed nations have already entered into recession.

Agencies