India's leading manufacturer of machine tools, Ace Micromatic group (AMG), has set up its first overseas state-of-the-art tech centre in China's financial hub Shanghai to cater to its fast expanding base of customers in the region.

It is the first such move by an Indian firm in China to exclusively cater to the vast Chinese market, which is often referred as the world's factory, the company officials said.

The AMG is the largest machine tool group in India since 2005 catering to one-third of Indian machine tool requirement, its Managing Director Shrinivas G Shirgurkar told PTI.

He said the company began operations in Shanghai during 2007 setting up a small office in the city's Wai Gao Qiao free trade zone.

"Now, our CNC lathes, machining centre, grinding machines are installed and spread over 60 cities in China," he said.

The CNC supports industries like automotive, energy, health, defence, fluid handling, aerospace, dye and mould among others.

Significantly, AMG manufactures brake pads for China's high speed trains.

"Our experience in China has been enriching and productive. We are better understanding the needs of Chinese customers and continuously upgrading our products and service offerings to our Chinese customers," he said.

AMG which has turnover around Rs 2,050 crore is expanding at the rate of about 30 per cent year and about 11 per cent of its turnover came from exports, Shirgurkar said.

The group has a global installed base of over 50,000 machines and a growing presence across North & South America, Europe, Middle East, Australia and Asia, he said.

The Tech Centre with a spread of 1800 sq metres is a dedicated knowledge hub where customers are hand-held through the process of understanding their machines better with hands-on practical knowledge, said C R Raguramachandran, General Manager| Micromatic Machine Tools (Shanghai).

Both Shirgurkar and P Ramadas, President of Indian Machine Tool Manufacturers' Association who is also associated with the AMG, were upbeat about fast growth of India's manufacturing sector under the 'Make in India' programme.

While India is still far behind China in manufacturing, it is catching up fast specially after the expansion of the private defence sector under the 'Make in India' programme, Ramadas said.

Inaugurating the centre, Consul General Rai said it reflected the success story of Ace Micromatic in China and confidence of Indian industries in the Chinese growth story. He urged the Chinese investors to invest in India.

Since Chinese companies have enormous experience and expertise in manufacturing sector, Make in India initiative presents a great opportunity to explore the possibility of economic engagement and investment in India, he said.

India's manufacturing industry is already moving in the direction of industry 4.0 where everything will be connected and every data point will be analysed, he said, adding that the Indian companies are at the forefront of R&D and have already become global leaders in areas such as pharmaceuticals and textiles.

"India looks for cooperation and investments from China with the spirit of mutual gains. The investment from China is most welcome and will get rule based fair and equitable treatment in India. Meanwhile, it is useful to mention that Indian industries also expects similar treatment, based on the principles of reciprocity, equal treatment, protection against discrimination and prejudices from state and non-state actors," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)