Exhibition
Fastener Fair India 2024- High Demand for Construction and Industrial Fasteners in the South Asian Market
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A study by Straits Research predicts that the Indian industrial fastener market is expected to reach US$17.868 billion by 2030, with a compound annual growth rate of 7.9% until 2030. India has become one of the hot markets for global manufacturing investment in recent years. This year's show was held in this background with the expectations of market investors.
The show was held in Hall 6 of the venue, Pragati Maidan, divided into a three-day fastener show and a four-day parts and components show. Fastener World led 6 Taiwanese exhibitors to the show, including Ray Fu Enterprise, Chite Enterprises, Hurmg Yieh Machinery Industrial, L & W Fasteners, Homn Reen Enterprise, and Yih Tieng Machinery Industrial, bringing Taiwan's high-quality and well-received fastener and machinery suppliers with high cost performance ratio to the Indian market. Meanwhile, Fastener World introduced many Taiwanese suppliers to Indian visitors through its publications.
Fastener World’s exhibitor observed that the majority of the show’s exhibitors were local Indian companies, with the rest from Japan, China and other countries. The visitors were mainly local fastener importers, distributors and manufacturers. The products that visitors inquired about were mainly fasteners, CNC products, fastening tools, precision parts, and machines. It was quite good considering the number of visitors. In addition to interacting with visitors, many exhibitors took the opportunity to meet long-time customers. Many buyers were very interested in working with Taiwanese and Chinese fastener and machine manufacturers, looking to find more high-quality product sources. The demand for construction fasteners and various industrial parts was high there. Many Indian manufacturers said they purchase machines from Taiwan. They said Taiwan provides better quality. There were also some Indian manufacturers looking to find Chinese suppliers who offer cheaper prices.
On another note, BIS certification will pose a future challenge. Initially, only Indian manufacturers were required to have this certification, but in the future, overseas manufacturers who want to sell products to India will also be required to pass this certification. However, the implementation details are currently only drafts and have not yet been officially in force. Companies interested in entering the Indian market must pay more attention to BIS information.
The organizer will announce the next launch of the show. Fastener World will have the latest information and with announce it right away. Log on to Fastener World website at www.fastener-world.com to track the latest development.
