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Covid pandemic has created a unique opportunities for Indian tool makers

Category :

Tooling Industry

When we talk about the tooling industry, one must know that it is a high captive & high skill dependent industry. For these reasons, this industry is always in a critical stage due to higher fix cost. Their costs are directly proportionate to time & hence a lower lead time for any development is high on the agenda for tooling industry. As mentioned, due to high captive cost involvement, sharing of resources is a crucial factor for them. Keeping idle asset kills the entrepreneur & hence it has been noticed that this type of industry works in clusters. The trust among the various stakeholders is very high & effective utilization of their resources give high leverage to these companies, which improves sustainability and improves the productivity and cost with a better cash flow situation. When we look in India, the talent available in the tooling industry is fairly comparable to other low-cost countries, but it lacks a clusters culture by leading to non-sharing of resources. Hence in-spite of good talent & willingness among the stakeholder, this industry couldn’t perseve the desired growth since it majorly lacks sharing of resources. It has been noticed that even many stakeholders are even not aware of resources available with other potential partners, which leads to either high lead time or loss of business or extra costs. The covid pandemic has created unique opportunities for Indian tool makers.....

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