- Jaipur: An introduction
- Industrial spare parts segment: An integral part of an industry
- Make in India’ a government initiative to promote industrial spare parts manufacturing businesses
- Easy availability of business loans in Jaipur
Jaipur: An Emerging Manufacturing Hub in the State of Rajasthan
Jaipur is known for tourism primarily but today it has forayed into information technology and luxury textiles industry. It is also known for wonderfully and precisely crafted jewelry and gemstones. All of these industries require Industrial spare parts, fondly known as machine tool parts for manufacturing of the products.
Role of Industrial Spare Parts In Manufacturing Industry
Industrialisation is like an interplay between machine tools and humans. The better the machine parts are, the better the products would be. The industrial output is measured in terms of reliability, precision, attention to minute details, efficiency and consistency. All of these aspects are achieved with the help of quality machines in the manufacturing sector. In industries such as agriculture machinery, defense, automobile, and railways, industrial spare parts play an important role strategically.
‘Make in India’: A Booster for Industrial Spare Parts Manufacturing Business
Under ‘Make in India’ initiative, government of India has floated ‘National Capital Goods Policy’ which ensures creating a healthy environment for Industrial Spare parts manufacturing business with the implementation of a unified tax system, Goods and Service Tax and setting up of startup centres for this industry in collaboration with Capital Goods Industry and Department of Heavy Industry.
Emphasis on Small Scale Industrial Spare Parts Manufacturing Business
New schemes have been introduced under cluster development to encourage the Industrial Spare Parts Manufacturing Industry to adopt the latest technology and devise a technological and financial framework to support it. This initiative will improve the productivity and profitability of the industrial units in a significant way.
IMTEX, a Platform to Showcase Your Product
Indian Machine Tool Manufacturers Association organizes a machine tool show called as IMTEX which gives an opportunity to Indian Machine Tool Manufacturers to showcase their products. This show is one of the biggest machine tool shows in south-east Asia and you can showcase your products to multiple manufacturing industries using this show as a common platform.
Future Prospect for Industrial Spare Parts Manufacturing
As per the 2017 Gardener Business Media Survey report, India stands 8th in the consumption of industrial spare parts and this consumption is likely to increase because of the conducive atmosphere created by the government for the growth of the industry.
Industrial Spare Parts Manufacturing business has bright future prospects in the globalised world. If you want to start or expand your Industrial Spare Parts Manufacturing business you can avail business loans at affordable interest rates and convenient repayment plans at Bajaj Finserv.