The 50th anniversary of the Eastern India Ball Bearing Merchants Association was held on 24 August in Kolkata
The 50th anniversary of the Eastern India Ball Bearing Merchants Association is celebrated during the Golden Jubilee in Kolkata on 24th August 2018. Mr. P. L. Shah, The president of EIBBMA and The Convener Mr. Surendra Choraria had invited beside all EIBBMA member companies, several nominated guests including Mr. Dharmesh Arora, CEO at Schaeffler India Ltd., and Mr. Sanjay Kaul, MD at Timken India Ltd.; as guest of honour President of the Bharat Chamber of Commerce and Mr. Selim Caglayan. Beside the invited guests, most of the EIBBMA members such as Mr. Chindalia from ZKL Bearings, Mr. Aditya Chindalia from FKL India, Mr. Nirmal Biyani from Shreeniwas Trading, Mr. Kirti Mehta, Mr. Rajat Bhattacharyya and Mr. Bhagwan Shekhawat from URB India, Mr. Anis Patel from Patel Brothers, Mr. Kamal Choraria from R.B. Sales Corporation Mr. Nihar Dugar from TECHNO India, Mr. Siddharth Padia from Padia Enterprise and Mr. Nisant Dargarh from Uday Enterprise and hundreds of other EIBBMA members were present during this important event.
Speaking on the occasion, the EIBBMA President Mr. P. L. Shah said “We are extremely happy to reach the 50th year milestone and we hope to celebrate more such landmarks going forward. The Indian bearing market is estimated at INR 95 billion and it constitutes around 5% of global bearing demand. In terms of consumption, about 60% of the required demand is catered through domestic production while remaining is met through imports. In line with global market, domestic market can be broadly classified under industrial and automotive segments. The Major bearing consuming sectors in Eastern India are mining, steel, railway and energy industries, which are witnessing a robust growth? Eastern India is also the gateway to neighbouring countries like Bhutan, Nepal, Bangladesh and Myanmar.”
Speaking on the occasion, Dharmesh Arora, CEO at Schaeffler India said “An Association is very instrumental in the case of bringing economic activity to eastern part of the country. Eastern part of India has always been in forefront for industrial development. We are so proud to be associated with the members of this association. It is such a great opportunity. But with great opportunity comes great responsibility. So we are always here to help our partner to increase one of the largest industry to its extent.”
Speaking on the occasion, Sanjay Koul, Managing Director at Timken India said “In India, right now there is a 2 Trillion USD economy and the Governement is planning to turn into a 10 Trillion USD economy. Infrastructure today is changing really fast. If you can not adapt to the change, you will no grow. We have survived the past 50 years because we have adapted to the change.”
It can be mentioned that for the first time two important leaders from the bearing industry, Mr. Dharmesh Arora, CEO at Schaeffler India and Sanjay Koul, Managing Director at Timken India were at the same platform and highlighted the current trends, the future developments and aspirations in the bearing industry.
The key note address “The Bearing Industry and Trade by 2025” is held by Kenan Özcan, editor-in-chief and founder of BearingNEWS; with focus on the current status of the Global bearing market, covering the manufacturing, distribution and the OEM, MRO applications aspects.
In his key note, Kenan Özcan tried to sketch the big picture for the future by analysing the past and defining the current status of the Global bearing industry.
Quote: “There are more intense changes in distribution and application of bearings today than the past 30 years, where only the adapting organizations will succeed to transfer their brand and existence to the next generations. The current technological developments, changing market drivers and dynamics of the industry are resulting in a big switch in customer expectations. Bearing distributors and manufacturers are forced to expand their offered services, stay ahead with the digital transformation while maintaining the pricing structure.”