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International Hardware Fair India starts from today at Pragati Maidan

New Delhi. Facing all the challenges, India’s hardware hand and power tool industry sector has set a target of taking the manufacturing sector to 1 trillion dollars by 2030. Currently, Germany and China have dominance in this region, but India will break their dominance very fast. Not only this, the industry is engaged in exploring and using new methods to reduce carbon footprint. This information was given by R.K., Director, Office of Development Commissioner, Ministry of MSME, Government of India, while talking to journalists after the inauguration of the International Hardware Fair India (HIF India) exhibition going on at Pragati Maidan on Saturday. Rai gave.

With over 200 international exhibitors and over 7000 buyers, IHF brings together innovative products and solutions from across the world. Participants from different countries including India, Taiwan, Germany, China, Turkey, Korea are taking part in it. In response to a question, RK Rai said that the market of hand tools was 342.8 million dollars in 2022, which is expected to grow at the rate of 4.3 percent to reach 416.2 million dollars by 2029. India is ready to compete with China in the Asia-Pacific hand tool market.

Press Coverage By:India.postsen.com