Indian foundry industry, the third largest globally, expects an investment of USD 3 billion while the National Steel Policy has envisaged steel production to reach 110 million tons (mt) by 2019-20 with the assured estimated investment in the next 10 years in order to meet the potential demand of 30 million tons of castings.
A focused international exhibition & conference on 'Metal and Foundry (IFMET)' will be held during March 14-16, 2018 at Bombay Exhibition Centre, Goregaon (East), Mumbai to discuss and evaluate the same.
"This is an ideal platform that will showcase innovations & solutions in the engineering sector," said Dr H Sundara Murthy, President Indian Foundry Organisation.
IFMET is extremely significant considering that the foundry and metal industries are one of the fastest growing industries in India. The foundry industry has a turnover of about USD 19 billion with an export of about USD 2.5 billion. The Indian Foundry Organization (IFO) is playing a pivotal role for growth of these industries in India.
IFMET EXPO being organized for the first time by the Department of Heavy Industry Government of India as part of the 'Make in India' initiative, has successfully roped in the Ministries of Steel/ Mines/ Commerce & Industry Micro, Small & Medium Enterprises that are taking a lead role in ensuring success.
The exhibition and conference will provide excellent business opportunities for the manufactures of foundry, metal, metallurgy, steel and allied industries to showcase their technologies, new initiatives, products and services to the global audience.
Some of the other participating government departments and industry leaders are ISRO, HEC, MECON, MSME TOOL ROOM, CIDC, AFECO, AIMIL, ALTAIR ENGINEERING, BLA COKE, CU-BUILT, EIRICH, FARO, GNR, INDIANA MACHINE TOOLS, KOIWAI, and UNICON, to mention a few.
The event is a unique platform for entrepreneurs, decision makers, senior government officials, investors, industry members, traders, equipment buyers & suppliers, academia, engineers and trade delegations to congregate, brainstorm, showcase and forge meaningful partnerships for business.