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The outlook is good for India's foundry industry

IFEX 2024 and the 72nd IFC set new benchmarks

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Thomas Fritsch, Chief Editor

The Indian foundry industry has witnessed steady growth in recent years supported by increasing demand in various sectors such as automotive, engineering, energy, and infrastructure. Many foundries have started modernizing their production processes to become more efficient and eco-friendlier.

The IFEX 2024 exhibition in Bangalore and the 72nd IFC, excellently organized and staged by the IIF Southern Chapter with IFEX Chairman Yogesh Kumar, clearly confirmed that the improvements in the foundry industry are now expected to accelerate.

Technological progress with the use of automated production processes instead of manpower, simulation, digitalization of the process chain with software and ERP systems or 3D printing - are becoming increasingly important as well as, at the same time, environmental aspects concerning the use of raw materials, auxiliary materials, and CO2 reduction. Indian foundries are also increasingly focusing on environmentally friendly materials, recycling, and waste reduction in order to keep an eye on their ecological footprint.

A spirit of optimism throughout the country - quality offensive called for

In my interview with the current IIF President D.S. Chandrashekar and IFC Chairman S. Rudre Gowda, it quickly became clear that India is on the threshold of a new era. Driven by an ambitious young start-up culture, the challenge of growing organically and intelligently is to be taken up together. This applies to all areas of foundries, because the challenges and opportunities are great, as is the motto of the 72nd IFC: "Unleashing the opportunities".

When I was talking to exhibitors and visitors at the event in Bangalore, I received an overwhelming and enthusiastic feedback from all sides!

"You can literally feel the spirit of optimism and the growth of the economy here," was the general opinion. Now it is the companies' turn to implement their plans in a targeted manner.

Annual production of 12 million tonnes of castings: 2nd place in the world ranking

With an annual production of 12 million tons of castings, India is already in the second place in the world ranking behind China, but quantity is only one aspect of development. Now it is all about the decisive quality offensive for the benefit of Indian companies, society, and suppliers as well as service providers from all over the world.

Economists are forecasting a growth of 7.5 % for the Indian economy in 2024. The economic forecasts for the following years are also positive. For the domestic economy, this applies to the expansion of infrastructure, mobility, railroads, energy, communication technology as well as personal consumption.

In terms of foreign policy, as a non-aligned country with a stable government that is likely to be confirmed in 2024, India enjoys the interest and favour of a wide range of potential casting customers. Last year, castings worth of 3.5 million US dollars were exported all over the world. Here are also the signs pointing out a great growth potential through continuous improvement in quality standards.

If the Indian foundries now consistently implement the promises of past years, then the Indian decade could be upon us. This assumes that companies in the casting industry focus on quality improvement and invest in technology, equipment, and services.

Next IFEX and 73rd IFC 2025 in Kolkata

IFEX 2024 and the 72nd IFC in Bangalore have absolutely fulfilled the high expectations of many and reflected the good mood in the industry. Now is the time for everyone to stay tuned and implement! In 2025, IFEX and the 73rd IFC will take place in Kolkata and will be organized by the Eastern Chapter of the IIF. If the development continues like this, we are already looking forward to that by today!

Indian Foundry industry at a glance

  • India is the second largest producer of castings in the world with about 14.16 million MT p.a. (2022 - 2023)
  • Types of castings: gray iron, non-ferrous, cast iron, ductile iron castings, steel castings and various types of castings
  • Foundries: approx. 4,500
  • Employees: 2.0 million (500,000 directly in foundries)
  • Turnover: 20 billion USD
  • Exports: 3.94 billion USD (2022 - 2023)
  • Buyers: Automotive 32%, mechanical engineering 7%, pipes and fittings 9%, agricultural machinery 8%, railroad 6%, pumps 5%, valves 4%, electrical components 3%, energy 5%, sanitary 8%
  • Casting Clusters: Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholhapur, Rajkot, Mumbai, Belgaum, Coimbatore, Chennai, Shivamoga, Hyderabad, Howrah, Indore, Ahmedabad, Faridabad etc.
  • Growth opportunities: defense, aerospace, railroads, renewable energies, energy, start-up culture, infrastructure, household goods, wind energy etc.

 

Company Info

Institute of Indian Foundrymen

335 RAJDANGA MAIN ROAD, EAST KOLKATA TOWNSHIP,
700107 KOLKATA
India

Telephone: +9133-2442448968257384-87

[1461]
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