German engineering major Siemens AG Wednesday opened its first technology and application centre in this tech hub for the Indian machine tool industry.

"The centre will provide machine tool manufacturers and users hands-on experience of our latest CNC (computer numerical control) technologies and solutions," Siemens' Indian subsidiary said in a statement here.

Located in the city's northern industrial suburb, the 6,500-square feet facility will provide application support and training to customers and institutes dealing with various types of machine tools.

"The centre will enable machine tool manufacturers and users to improve productivity through testing machining techniques in plant conditions," Siemens global head for machine tools business segment Joachim Zoll said on the occasion.

The centre will also demonstrate the company's Sinumerik CNC controllers and CAD/CAM solutions and use SinuTrain, a simulation tool, to train users in achieving higher productivity with the company's technology-specific functions and features.

"We will showcase how our solutions and services for machine tools, drives and automation work together to optimise operational cost, maximise return on investment, enable higher productivity and precision in key industries like automotive, aerospace, power and medical," Zoll said.

The centre also houses Siemens Financial Services, an international provider of business-to-business financial solutions.

"Modernisation of Indian industries is creating growth opportunities for the machine tool industry. Bringing a differentiated product to the market is imperative for success in a competitive market," Zoll observed.

Siemens has six such centres worldwide, functioning as a knowledge hub for its cutting-edge technology.

According to the Indian Machine Tool Manufacturers' Association (IMTMA), the industry's market size is estimated to be a whopping Rs.12,300 crore (Rs.2.1 billion), with domestic production meeting only 33 percent of the demand while imports account for 67 percent of the total consumption.

"The Indian manufacturers can tap into the growing demand from key user segments like automobiles and consumer durables by moving to CNC machines and leveraging on innovative technologies for higher productivity and quality to gain a competitive edge," Zoll added.