Machine tool and engineering industry is poised for growth with small and medium enterprises playing a big role, according to players in the industry.

The Rs 10,000-crore industry is growing at about 15 per cent a year. But it had a tough 2010-2011 due to the general slowdown. The current year too has been impacted due to slowdown in the automotive sector in the country.

The domestic machine tool industry is able to meet only about 40 per cent of the total consumption. But it holds immense potential as manufacturing sector modernises and takes to new generation products of global standards.

The Fourth Edition of HITEX International Machine Tool Expo 2012 will be held here during August 23-26 along with the second edition of Process Engineering and Conference, will take stock of the problems and prospects.

Addressing a press conference here today, K. Nagendra Prasad, Chief Operating Officer of HITEX, said that the event where BHEL, NMDC, Hyundai among others will participate, is expected to serve as an ideal platform for business-to-business interactions. The event is likely to host over 200 exhibitors and is expected to have over 12,000 visitors.

Andhra Pradesh is considered the second largest base for machine tools in the country. The industry in the State and around Hyderabad witnessed significant growth due to the presence of State-owned Praga Tools and HMT. Lately, Karnataka has made big strides allocating about 300 acres for machine tool equipment makers, M. Lokeshwara Rao, President of Lokesh Machines Ltd, said.

Devendra Surana, President of Fapcci, said the expo will serve as a forum to process technologists, entrepreneurs, engineers, procurement mangers.