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India's Foundries Poised For Success

Issued at 2014-12-16



India's elections this year have given a huge boost to the economy, placing India back on track to achieve much higher growth rates. Short term, on-going growth in consumer spending is assured. More importantly for the long term, India is now committed to significant structural change to drive manufacturing in India, from a current 16% of GDP, to more than 24% of GDP in just the next five years. This is really good news for the foundries of India, as the OEM requirements for castings will grow again at double digits for the foreseeable future. Assuming that Indian foundries can meet the growing stringent standards of the global OEMs now expanding in India, like CAT, Deere, Ford, GE, Hyundai, etc., the next few years are bright.

India has approximately 4,600 foundries. Production in 2015 will exceed 12 million making India once again the second largest producer of castings lagging China, but ahead of the USA.

While historically India has not been a large exporter of castings, this is poised to change. Interestingly, India's castings exports are likely to be higher value add and more sophisticated than from China.

For castings procurement specialists who wish to explore India's capabilities, two up-coming events are highly recommended.

First opportunity is in February 27,28, and March 1, at the India Cast Source Meet, being held as part of the Indian Casting Congress and Cast Expo.http://www.ifcindia.net/cast_source_meet.php Being held in Delhi, this venue offers a convenient way for procurement people to meet a significant number of metal casters who will be displaying their castings.

The second opportunity is at NEWCAST/GIFA in June where the largest group ever of Indian foundries will be participating http://www.newcast.com/

I hope to see you all at these world-class events to meet India's world-class metal casters.


Source: Horizons India



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