The much-anticipated
International Hardware Fair India (IHF India) made a grand entry today at
Pragati Maidan, New Delhi, ushering in a new era for the hardware industry in
India. Organized by Koelnmesse Pvt. Ltd., the inaugural edition is powered by
EISENWARENMESSE –International Hardware Fair Cologne, Germany, the world’s
largest hardware tools and accessories exhibitions and, propelling the hardware
industry into a new epoch.
Igniting
collaborative growth
International Hardware Fair
India aims to be a focused event for the hardware community and embed German
standards in facilitating the marketplace. The extensive hardware assembly
brought together industry luminaries, leading manufacturers, the buyer's
community, policy influencers, and crucial stakeholders; providing professional
platform for the entire hardware community. With over 200 international
exhibitors and more than 7000 trade buyers, the IHF floor is a vibrant tapestry
of cutting-edge products and solutions from around the world. Participating
countries include India, Taiwan, Germany, China, Turkey, Korea and more.
The grand inauguration
ceremony was marked by the presence of key dignitaries Mr. R. K. Rai, Director
-Office of Development Commissioner, Ministry of Small & Medium
Enterprises, Mr. Arun Kumar Garodia, Chairman, Engineering Export Promotion
Council of India, and Mr. Milind Dixit – Managing Director, Koelnmesse Pvt Ltd
in the presence of several prominent industry leaders.
Delving into the
significance of the hardware industry in India's manufacturing landscape, Mr. RK Rai, Director, Office of Development
Commissioner Ministry of SME said, “The Indian hand tools market was valued
at USD 342.8 million in 2022, with a projected CAGR of 4.3%, reaching USD 416.2
million by 2029. India is set to rival China in the Asia-Pacific hand tools
market. Additionally, the industrial fasteners market is expected to hit INR
460 billion by 2023, growing at a strong 9.6% CAGR since 2018. India's Hardware
& Building Materials market is also thriving, with a projected 1.68% growth
rate (CAGR 2023-28) globally, contributing a 1.2% share in global exports. The
government's "Atmanirbhar Bharat" initiative also aims to elevate
manufacturing standards, especially for MSMEs. We foresee IHF India 2023 as a
catalyst for meaningful industry interactions, collaborations, and
advancements, promising a vibrant future for India's hardware sector.”
Mr.
Arun Kumar Garodia, Chairman of the Engineering Exports Promotion Council
(EEPC), emphasized “India's ambitious goal of achieving a USD 1
trillion merchandise export target by 2030, with engineering exports aiming for
a significant share of USD 300 billion. Despite facing global challenges like
the pandemic and geopolitical conflicts, Moody's projects India's 2023 growth at
6.7% the highest among G20 nations. The Indian engineering sector, particularly
the hardware industry, is a rapidly growing and diverse segment, making a
substantial contribution to the country's development and manufacturing sector.
With increasing global demand for hardware products, India is poised to emerge
as a global leader in hardware manufacturing. We anticipate IHF 2023 to serve
as a catalyst for industry growth and collaboration, firmly establishing India
as a global powerhouse in the hardware industry."
Mr.
Milind Dixit, Managing Director, Koelnmesse Pvt Ltd,
India's ambitious goal to achieve a USD 1 trillion manufacturing sector by 2030
is not just a numerical target; it's a testament to the nation's commitment to
economic growth and industrial prowess. As this sector is poised to grow at a
robust CAGR of 11% from 2020 to 2030, the hand tools and power tools market
play a pivotal role in shaping this trajectory.
Hand tools, often the
unsung heroes behind manufacturing, are the linchpin for every industry,
driving efficiency and precision. The raw material transformation in every
sector relies on the craftsmanship enabled by these tools, making them
indispensable contributors to the overall growth of industries. It's not just
about numbers; it's about the essential tools that empower our industries and
workforce on the journey to a trillion-dollar manufacturing landscape, he
further added.”
Addressing the burgeoning
growth in the hardware industry, Mr.
Ajay Kumar Goswami, Deputy Regional Chairman, EEPC India and Founder of Ajay
Industries highlighted, "India's hand tool industry exports have
soared to approx. 1600 crores currently. Anticipating a minimum growth of 10%
over the next five years, this trajectory is made feasible by leading companies
engaging in substantial bulk purchases, elevating the industry to new
heights."
Diverse
Industry Segments
The event focuses on
diverse segments, including building material hardware, automotive supplies
& accessories, cutting and welding equipment, premium hand tools, power
tools, specialty tools, construction and infrastructure, automobile/automobile
service, woodworking and furniture, gardening and horticulture, and abrasives,
every sector of the hardware industry is well-represented. Notable exhibitors who
participated are H.R. International, Carborundum Universal Limited (CUMI),
Powertex Tools Co. Pvt. Ltd., D.P. Garg & Co. Pvt. Ltd., FMI Limited and
many more.
Support
from Industrial Associations
The event is
comprehensively supported by key national and international industrial
associations, like Engineering Export Promotion Council of India, Taiwan Hand
Tool Manufacturers Association, Bhutan Hardware Association, Ludhiana Hand
Tools Association, Jamnagar Factory Owners Association, Fasteners Manufacturers
Association of India, Jamnagar Hardware Manufacturers Association, Chamber of
Industrial & Commercial Undertakings, Alwar Hardware Merchants Association,
New Timber Market Dealers Association, Haridwar Hardware Association and
others.
Unveiling
Excellence in hardware industry
This curated series of
exclusive events aims to captivate industry leaders and experts through diverse
formats. The discussions revolved around critical topics, featuring insights
from Rakesh Nayar, Director at FMI Limited, on 'Advancements in Measuring and
Testing Tools'; Sharad Agarwal, Director at Oaykay Tools / Forging &
Chemical Industries, addressing the 'Need for Modernization and the Future of
Hand Tools'; and L N Gupta, Director at Powertex Tools Co. Pvt. Ltd., exploring
'Power Tools: Market Dynamics & Competitive Landscape.'
Special
Events
The event includes an
Innovation Product Showcase Zone featuring the top 9 innovative products for
our visitors to explore. Attendees have the opportunity to cast their votes for
the most innovative product of their choice. On the third day, the brands that
receive the highest number of votes will be honored. These activities enhance
the overall excitement and engagement for our event participants.
Showcasing
India's Potential
The hardware industry in
India is vast and diverse that encompasses a wide range of products. The high
demand for hardware products, offering lucrative opportunities for
international businesses to tap into varied consumer needs. The diverse
representation of industry segments allows businesses to explore new market
opportunities, expand their reach, and establish valuable connections with
potential clients and partners. India's consistent economic growth contributes
to its attractiveness as a market for investment. The hardware industry, being
an integral part of infrastructure development, aligns with the overall growth
trajectory.
International Hardware Fair
acts as a transformative force, bringing together global expertise, showcasing
cutting-edge products, fostering networking opportunities, and contributing to
the industry's growth and recognition. Despite global challenges, the
industry's focus on innovation, government support, and rising demand paints a
promising picture for its flourishing journey.
