On September 1, 2023, the three-day 21st India International Hardware Tools and Fasteners Exhibition (HTF) kicked off in Mumbai, India.
HTF is one of the largest hardware tool exhibitions in Asia, and it is also the largest hardware professional exhibition in India and the most recognized by domestic customers, and has been successfully held for 20 sessions since 2002. According to the organizer's data, this year's exhibition has more than 300 exhibitors, an exhibition area of 15,000 square meters, and is expected to attract more than 12,000 professional visitors. Products on display include a variety of power tools, hand tools, fasteners and construction hardware.
India International Hardware Tools Exhibition attracts more than 20,000 professional buyers from India and neighboring countries, such as Sri Lanka, Bangladesh, Pakistan and other countries to visit and negotiate business. The reporter visited the site and found that the participants of this exhibition are mostly exporters, retailers, factories, machinery and automobile manufacturing, construction contractors, architectural designers, furniture manufacturing and other related industries, and they have a high demand for high-quality and cheap Chinese fasteners.
India is one of the world's leading importers and exporters of fasteners. Relevant statistics show that in 2002, the total import of fasteners in India was 961,290,548 US dollars, and the total import was 219,335,386 kg; The total export volume was 833,368,225 US dollars and the total export volume was 319,284,439 kg. India is also an important export market for Chinese fasteners, China's General Administration of Customs data show that from January to June 2023, China exported fastener products worth 185,646,276 US dollars to India, an increase of 8.11%. In the context of Sino-US trade frictions, the importance of emerging markets such as India to China's tight business is increasing.
According to the relevant industry report, it is expected that by 2023, the demand for fasteners in India will reach 460 billion rupees, with a compound annual growth rate of about 9.6%. The automotive, construction, machinery, aviation, railway and aerospace industries will drive the growth of the Indian fastener industry. India's economic and industrial policies, under the promotion of "Make in India", have also given strong support to fastener demand.
According to the Fastener Association of India, there are more than 10,000 fastener manufacturers in India. The automotive industry is the largest user of industrial fasteners in India, accounting for about 75% of the fastener market share. India has overtaken Germany to become the world's fourth largest car market in terms of vehicle sales, and is expected to strive to become the third largest passenger car market in the near future. It can be seen that the potential of the Indian automotive fastener market is very considerable.
