Additive Manufacturing

JUL 2018

ADDITIVE MANUFACTURING is the magazine devoted to industrial applications of 3D printing and digital layering technology. We cover the promise and the challenges of this technology for making functional tooling and end-use production parts.

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Page 27 of 60

AMT NEWS CATEGORY: I International Business 25 By Arun Mahajan India General Manager AMT—The Association For Manufacturing Technology In July 2017, India implemented its big- gest tax reform since its independence in 1947. The new Goods & Service Tax (GST) replaces more than 10 different taxes that existed for several decades. GST will make business transactions much simpler and more predictable by removing certain cascading tax levies that were built into the previous multiple taxation system. The whole aim is to bring efficiency into the system by eliminating loopholes, reducing compliance issues and facili- tating the movement of goods between states. Economic experts are projecting that over the next three to four years, this tax reform will provide a 1 to 2 percent additional boost to the country's GDP due to the increase in demand as the new efficiencies lower the prices of goods. The latest projections from the World Bank and other forecasters predict the Indian economy to grow 7 to 8 percent over the next five years, putting it at the top of the charts for major industrialized countries. Additionally, the government's con- tinuous focus on reforming business processes and procedures will, experts predict, result in India jumping about 30 positions in the World Bank ranking for "Ease of Doing Business." These are significant developments! The government's efforts and thrust on implementing the "Make in India" program, aimed at positioning India as the India—Reforms Drive Manufacturing Growth and Ease of Doing Business fifth-largest manufacturer in the world by the year 2020, continues on course. The manufacturing activities across aerospace, automotive, construction equipment, capital goods, energy & power, railways, medical equipment, etc., should con- sistently see a double-digit growth for over next five-year period. The Indian Aerospace and Defence Modernization Program will see investments of around $200 billion over the next four to five years. Sectoral policy reforms have helped attract foreign investors to partner with Indian companies to establish a local manufacturing base for both internal consumption and export. Some of the recently announced projects include: • Tata Advanced System has partnered with Lockheed Mar- tin for the assembly and production of F16 fighter jets. • Saab has partnered with the Adani group for the assembly and production of Grippen fighter jets. • Reliance Defence Limited formed a joint venture with Thales to fulfill a $4.4 billion offset obligation for 36 Rafale jets that India has contracted with France. • RDL signed a memorandum of understanding with Daher Aerospace, France, to jointly explore opportunities in the design and development of composite parts, aero struc- ture components, airframes and assemblies. According to the Society of Indian Automotive Manufactur- ers, the automotive sector should experience growth of around 8 to 9 percent over the next two- to three-year period. The sector forecasts a turnover of $100 billion by the year 2020. Under the Automotive Mission Plan (AMP 2016-2026), the government has established a goal of a 7 to 12 percent contribution to the country's GDP. In the auto components sector, India is forecast- ed to become the world's third-largest manufacturer by the year 2026. The government is also working on the framework to have vehicles for public transportation 100 percent electric by 2030. Electronic hardware consumption is another area where the demand is forecasted to rapidly grow from the present $100 billion to $250 billion by the year 2022. As a result, electronic hardware manufacturing in the country is projected to grow from $45 billion to $120 billion in the same time frame. With substantial manufacturing growth, progressive tax re- form and a vastly improved business bureaucracy, India is now an easier place than ever to sell your products. The AMT Tech Center in Chennai has resources and expertise to assist you. For further information please contact me at

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