Stratasys, the world’s largest 3D printing company, has set up its India operations as it looks to tap into the growing manufacturing activity in India, led by the Modi government’s Make-in-India campaign.
The US-based company has inaugurated its first 3D Printing Experience Centre in Bengaluru, which showcases its entire range of professional 3D printers. The company has been selling its printers in India through distributors for the past 10 years. It decided to set up its direct presence in the country after seeing over 60% year-on-year growth in the India business.”India is already one of the fastest-growing markets for us and we expect to see over 50% year-on-year growth in the country for at least the next few years,” Omer Krieger, general manager, Asia Pacific and Japan, at Stratasys, told ET.
Krieger said the company will set up two more experience centres in the country this year, with $1 million worth of products on display at each. “We are seeing manufacturing companies in India using 3D printing for not just prototyping, but also for manufacturing molds and even finished parts in some cases. We hope to accelerate the market with our direct presence here,” he said.
Currently, Stratasys sells only its professional range of printers that cost between $10,000 and $600,000 each. Krieger said the company is also planning to bring its consumer printing brand MakerBot to India, which has products starting from $1,375. However, he said the high duty structure in India is still a big roadblock towards widespread adoption of 3D printing in the country.
“India has still not defined 3D printers as a product category. Due to this, 3D printers in India attract close to 40% excise duty, making it less accessible to Indian customers.” He said the company is working with CII and other industry associations such as ACMA to lobby for tax rebates for 3D printing to make it more affordable in India.
