Indradev Babu, Managing Director, UCAM Private Limited was elected as the new President of Indian Machine Tool Manufacturers’ Association (IMTMA) at its 73rd Annual General Meeting (AGM) at Bangalore. He will succeed P. Ramadas, Managing Director, Ace Manufacturing Systems. Ravi Raghavan, Managing Director, Bharat Fritz Werner Limited was elected as the new Vice President. The new Executive Committee of IMTMA for 2019-2020 was also formed.
At the AGM, Kamal Bali, President and Managing Director, 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 digitalization, 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).