Taegutec India

TaeguTec displayed its entire range of products at IMTEX 2019. Krishnan says, “We are displaying smart ideas to machine; more than the product the process determines one’s success in terms of productivity, tool life and achieving the quality parameters. This time we are focusing on emerging industries like medical and explaining to visitors ways they need to machine the components for medical machines.”

There are two aspects to medical: One is the medical industry, and he was not talking about diagnostics, but equipments that are largely imported, although some are made in the country, and surgical implants, which could range from orthopaedic or  dental.

As a multinational, TaeguTec has factories across locations. It has a huge capacity in Korea, China,  and India. “Depending on global growth and capacity availability in each location, we supplement each other so that factories are not set up only for export but also meet domestic demands. When it comes to special tailor-made engineered products, the company has a distinct advantage in India.

Krishnan says the company invests heavily in R&D and spend about 6-8% of revenue on R&D alone. “We spend money not necessarily to seek out novel solutions, but also dig deeper, find smarter solutions within the same existing products, so that customers can do their job much better,” he adds.

Though the market has begun seeing a slowdown, companies are keeping aside finances for capex, which is a good sign. On an average, there has been a drop of 10-15% from peak level spending.