More than 10,000 visitors and a record number of delegates and exhibitors attended the three-day event, which ended on Tuesday.
The 70th Indian Foundry Congress and IFEX, organised by the Institute of Indian Foundrymen, Western Region, was the first large-scale physical event of the foundry industry worldwide since the outbreak of Covid-19.
A record number of delegates, exhibitors and visitors attended the three-day conference and exhibition, which showcased India's atmanirbhar capabilities and opened avenues for new business opportunities and collaborations. The Indian foundry industry ranks second in the world with an output of 10 million tonnes per annum and an annual turnover of $19 billion. The industry also supplies overseas manufacturers of automobiles, tractors, motor vehicles, railways, power and engineering.
Subodh Panchal, Chairman, Organising Committee
"The 70th Indian Foundry Congress and IFEX received a very good response. More than 10,000 trade visitors attended the mega conference and exhibition. We are confident that the mega event has more than fulfilled its purpose of reviving the foundry industry and discussing the various pressing issues facing it," said Subodh Panchal, Chairman of the Organising Committee of the 70th Indian Foundry Congress, at the valedictory session chaired by Vijay Menon, CMD of Kolhapur-based Menon & Menon.
Vijay Menon, CMD, Menon & Menon
During the three-day conference and exhibition, leading casting buyers from India and around the world predicted a sharp increase in demand for castings in the coming months. The foundry is the mother of the manufacturing industry and foundrymen expressed their commitment to support the recovery of the economy. The various discussions during the three-day event focused on the following issues:
- Uncertainty in the supply of raw materials and volatility in prices.
- The founders said that the unprecedented supply and price problems are hurting the industry and making it difficult for MSMEs and even large companies to meet their supply commitments.
- The founders also assured that they will expand their production capacity to meet the growing demand.
- The foundrymen called for the introduction of a monthly price revision instead of the current quarterly revision.
Both president Devendra Jain and organisation president Subodh Panchal wanted cast buyers and founders to work hand in hand for better growth of the industry and the country.
Source: Subodh Panchal and Industrial Automation