The India injection molding machine market size was estimated at USD 0.73 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.1 percent from 2022 to 2030. The dies and molds market in India is segmented by end-user (automotive, construction, electronics, machine tools, and others) and application (casting, forging, and injection molding). From the end-user, the automotive segment will have significant market share growth during the forecast period. The growing demand for and the availability of expertise and the potential market, will lead to an increase in local manufacturing activities related to the automotive industry, thereby driving the demand for the production of various components necessary for the automotive sector. This, in turn, will drive the dies and molds market in India.
As a result of the 'Make-In-India' initiative, the market for new product development in India is flourishing. In light of this, the market for producers of moulds and dies is expanding quickly. Due to the enormous consumer market in India, many new items are currently being developed, and business growth has significantly expanded.
In the last 27 years, Hongyi JIG, have helped 500+ customers in eight countries set-up their projects worth 4000 crores of investments. Hongyi JIG Rapid Technologies Co. is a joint venture of brains and technology from Hong Kong and India that specializes in Tool & Die making and providing premium quality Injection Molding, Plastic Injection Molding, Pressure Die, Casting Tools, Sheet Metal dies, Rubber Moulds solutions along with batch productions. Hongyi JIG is an ISO 9000 Company with Mastery in Product Development, Tools Development and Project Management.
Over 3160 manufacturing projects have been completed by Hongyi JIG to date, and they have won seven awards for best product design. When tooling, the company guarantees a successful first trial with 85% dimensional accuracy. The staff at Hongyi JIG has a history of saving its clients at least 33 percent of their time, which has allowed them to save between Rs.13 and Rs.80 lakhs on their project. Over 117 crores of client costs have been saved because to research & development of Hongyi JIG. The promise and main USP of Hongyi JIG Team is that they have open lines of contact with customers to gain a clear knowledge of their goals for the final product.
About Founders
Co-founded by Sonia Khattar & Jagdeep Khattar, Hongyi JIG Rapid Technologies is regularly working for new strategies of serving the Product manufacturing industries by understanding the pain areas and supporting them without any commercial interests. He is a landmark Motivational Speaker, ILP Leader, and has coached and impacted 736 Lives so far. Jagdeep has helped 500+ customers in 8 countries to set-up their projects worth 4000 crores of investments and has won seven Product and Designs & Development Awards.
Sonia Khattar began her professional journey as a medical graduate, and steadily transitioned into the Mould Making Industry. She learned Business System Design in Hongyi JIG, and started working in all departments including Procurement, Engineering consultancy, Imports, Finance and Office Management with the workflow management system. Over the years, Sonia has won several accolades as the Women Entrepreneur of the Year.
Led by this duo, Hongyi JIG Rapid Technologies is a team of Project Managers, Product Managers, NPD Managers, Product Design Specialists, Product Engineering Experts, Tool Designers and Tooling Engineers. Hongyi JIG Rapid Technologies has a team of professionals for Development projects. The Product Development Team and Project Management Team work together to create a win-win situation for the customer and his project.
The Goal
In addition to providing the industry with product development and injection moulds, Hongyi JIG also supports its clients in offering top-notch goods and first-rate customer service. "Our goal is to relieve the product producers' pain points. We are here to assist product makers in finding solutions to their issues without charging them any money for consulting", explains Jagdeep. The company supports the product manufacturing industry by providing services for the entire product development process as well as injection moulds.
In addition, with 27 years of experience in technology, Hongyi JIG has handled a wide range of customer categories, including automotive, new product development with home appliances, electronics, FMCG, industrial products, and much more. In the extended experience in cash the advanced methodologies and experience of overseas tooling partners.
In terms of techniques, Hongyi JIG believes tool making needs to be more organized and structured with new ways and strategies of working systematically and adopting automation in processes by addressing What, When, Who and How with the internal team, and building a customer support system with the doers team.
The Journey
Founded in 1995 by Late Sh. Dharam Chand Khattar as Jagdeep Industrial Graphics, the vision was to serve the Indian Product Industry with Design and new ways of manufacturing. Considering the Success stories of happy, JIG expanded to tool manufacturing activities for Plastic Injection moulds, Rubber Moulds, Sheet Metal Press Tools, and PDC Dies. The firm collaborated with existing stakeholders and rebranded as JIGTECH in 2001. As the firm continued to deliver quality services, the expectations of customers reached new heights. This called for more advanced technology partnerships and thus JIGTECH received its first overseas projects with HONGYI China in 2005.
In 2007, JIGTECH established an advance tool room in Xiamen to serve its customers and started offering end-to-end solutions from Art to Part. Following years, the firm partnered with SAPREV for the Product Development services in the United Kingdom and Europe. By 2018, Hongyi JIG was serving a large number of customers across geographies. Consequently, the firm adopted new Business strategies for Operation Automation to obtain quality delivery every time. Currently, Hongyi JIG is in the process of establishing a solution providing centers who can support customers by resolving their product development process and getting the maximum results with zero failure.
In line with the Future of Tool Making
The evolution of tool manufacture is a challenge for Hongyi JIG to develop. Learn innovative ways to service customers to help them save time and money as technology advances. The demand for electric vehicles in the automotive industry is anticipated to rise along with the penetration of alternative-engine powertrain vehicles, which will in turn fuel the growth of the injection moulding and moulding machine business.
The imposition of a global lockdown in response to the COVID-19 pandemic outbreak delayed the development and production of injection moulding machinery. The initial lockdown phase saw a decline in the demand for machinery from the automotive, packaging, and logistics sectors. This has sequentially hampered the Indian injection moulds & molding machines market.
Equipped & prepped for the situations ahead Sonia Khattar says, "We need to be ready to Care for our customers and open for sharing our experiences and understanding customers' experience and pain areas. We are heading to establish world class tooling facilities with our Overseas tooling partners, to support Indian Product manufacturers in every part of the country". Hongyi JIG is hopeful with open doors for international collaborations where the firm can be potential partners to Japanese, Korean and West Side Countries in India.
Our Vision is to support Indian Product Manufacturing Industry for 'reducing 60 percent to 70 percent development time & 30 percent to 60 percent cost without adding any infrastructure even if they have multiple projects and a large number of Dies & moulds' without charging any money for consulting
The company's Hongyi JIG philosophy sets it apart from the other participants in this market. The future of tool manufacturing will depend more on new, clever project management techniques and systems than it will on high-tech, fast, or ultra-accurate machinery.
Automation will take the lead in the tooling group and make the most of the advanced infrastructure and knowledgeable personnel. To compete with foreign tool manufacturers, all members of Hongyi JIG must think creatively and innovatively.
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