The Indian Machine Tool Manufacturers’ Association (IMTMA) held its 73rd Annual General Meeting (AGM) at the Bangalore International Exhibition Centre (BIEC). Indradev Babu, MD, UCAM, was elected as the new president of IMTMA.
Babu will succeed P Ramadas, MD, Ace Manufacturing Systems.
Ravi Raghavan, MD, Bharat Fritz Werner was elected as the vice president of IMTMA.
The new Executive Committee of IMTMA for the year 2019-2020 was also formed.
Earlier, in a special session at the AGM, Kamal Bali, president and MD, Volvo Group India, spoke about the current economic downturn as well as the opportunities in store for the auto sector. He said that the slowdown that we see in the auto sector is cyclical and the industry should continue its efforts digitalisation, innovation and providing solutions that are economically and environmentally viable.
Elaborating further he said that industry should move from the earlier definition of VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) towards a new definition of VUCA, i.e. (Vision, Understanding, Clarity, and Agility).
