Nithyanandan Devaraaj, chairman of the Policy Advocy Committee of the Indian Foundry Association, said the average capacity utilisation in the foundries this year (2023) was expected to be 60% -70%. “Overall, the Indian foundry industry may not see growth in volume terms in 2023. In value terms, it is expected to be 2% to 3%. Next year can see about 4% growth in volume, though it will depend on the general…