International Hardware Fair India 2024 Showcased Global Innovations and Industry Alliances
The second edition of the International Hardware Fair India, supported by EISEWEMESSE, was organized from 6th December 2024 to 8th December 2024 in Hall o. 11, Pragati Maidan, New Delhi. Organized by Koelnmesse, the event highlighted global standards and cutting-edge advancements within the hardware sector.
With over 250 exhibitors and international pavilions from China, Korea, Italy, and Taiwan, the fair had more than 10,000 trade visitors from over 35 countries. India’s furniture hardware market is projected to grow at a CG of 15.49%, from $3.04 billion in 2024 to $6.26 billion by 2029, underscoring the sector’s rapid expansion and promising future. The opening ceremony featured key figures such as Ashwani Kumar, President of the Federation of Indian Export Organizations (FIEO); Dr. jay Sahai, Director General & CEO of FIEO; Oliver Frese, COO of Koelnmesse GmbH; Sebastian Rosito, Vice President of Trade Fair Management at Koelnmesse GmbH; and Milind Dixit, Managing Director of Koelnmesse Pvt. Ltd.
The Indian hardware sector is poised for significant growth, driven by a favorable business environment, a thriving startup ecosystem, and increasing internet penetration. India’s hardware exports have demonstrated a remarkable 15% year-on-year growth in 2023, highlighting the country’s burgeoning competitiveness in the global market. India has achieved the distinction of becoming the fifth-largest major economy globally, with a collective vision to attain a SD 5 trillion economy by 2027, driven by a robust growth trajectory, strategic government initiatives, and a young and aspirational population.
Ashwani Kumar,
President, FIEO
The exhibition spans a wide array of products, including advanced hand tools, power tools, industrial hardware solutions, and specialized tools. Leading participants include Alok International Pvt. Ltd., D P Garg & Co. Pvt. Ltd., De Neers Tools Limited, Gripwell Forgings & Tools, H.. International, K Files & Engineering Ltd., Sparkle Tools Pvt. Ltd., among others. Ashwani Kumar highlighted the Indian hardware sector’s substantial growth, driven by a favorable business environment, thriving startups, and increased digital penetration. India’s hardware exports saw a 15% year-on-year increase in 2023, bolstering its position as a global industry leader. He also pointed to India’s ambitious goal of becoming a $5 trillion economy by 2027, supported by strategic initiatives and a youthful workforce. The event provides a crucial platform for product showcases, market exploration, and collaboration between Indian and global buyers, with over 200 Indian exhibitors.
Dr. jay Sahai discussed India’s export goals, targeting $2 trillion by 2030. With exports growing from $478 billion to $778 billion at an annual rate of over 8%, he projected a 14% CG to sustain this growth. He emphasized India’s competitive advantages, including outperforming sectors, government-backed initiatives such as the Production Linked Incentive Scheme, and new opportunities from global supply chain shifts.
Free trade agreements with key markets such as the UAE, UK, Australia, and the E are expected to further enhance India’s export competitiveness. Milind Dixit highlighted the transformative shift in India’s hardware and building materials market, driven by the rising demand for sustainable products and increased investment in infrastructure. Government initiatives such as “Make in India” and affordable housing projects support this growth. The DI & Hardware Store segment is also expanding, with revenue projected to reach $245.20 billion by 2029. Oliver Frese commended India’s emergence as a key player in the global hardware and building materials market, driven by domestic demand and export capabilities. He praised the fair for fostering innovation and partnerships that push the industry forward.
Supported by key associations such as the Jamnagar Factory Owners Association, Fastener Manufacturers Association of India, and Taiwan Hand Tool Manufacturers Association, the event plays a pivotal role in uniting industry leaders and shaping the future of the hardware sector. Live demonstrations, innovative product showcases, and product launches are featured throughout, highlighting the advancements driving the sector’s evolution. s India embraces technological innovations and the Internet of Things (IoT), the hardware industry is set for transformative growth, particularly within the furniture sector. Industrial manufacturing is replacing traditional craftsmanship, creating opportunities for businesses and brands. The International Hardware Fair India 2024 stands as a vital platform for innovation, collaboration, and growth, propelling India’s hardware and furniture industries toward global prominence.