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 modernising their production processes to become even more efficient and environmentally friendly.
The IFEX 2024 exhibition in Bangalore and the 72nd IFC, excellently organised and staged by the IIF Southern Chapter with IFEX Chairman Yogesh Kumar, clearly confirmed that the improvements in the foundry industry are now set to accelerate.
Technological progress with the use of automated production processes - instead of manpower, simulation, digitalisation of the process chain with software and ERP systems or 3D printing - is becoming increasingly important. At the same time, environmental aspects for CO₂ reduction are becoming more important, especially in the use of raw materials and auxiliary materials. Indian foundries are increasingly focussing 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 requiredIn 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 potential".
In discussions with exhibitors and visitors at the event in Bangalore, I received an overwhelming amount of enthusiastic feedback!
"You can literally feel the spirit of optimism and the growth of the economy here" was the tenor. The ball is now in the companies' court and they have to realise their plans in a targeted manner.
Annual production of 12 million tonnes of castings: 2nd place in the world rankingWith an annual production of 12 million tonnes of castings, India is already in second place in the world rankings behind China, but quantity is only one aspect of development. Now it's all about the decisive quality offensive for the benefit of Indian companies, society and suppliers and service providers from all over the world.
Economists are forecasting that the Indian economy will grow by 7.5% in 2024, with stable growth forecasts for the following years. This primarily affects the domestic economy, in particular the expansion of infrastructure, mobility, railways and energy and communication technology.
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 3.5 million US dollars were exported all over the world and here too there are signs of growth potential through continuous improvement in quality standards.
If the Indian foundries now consistently realise the promises of past years, then the Indian decade could be upon us. This assumes that companies in the foundry industry focus on quality improvement and invest in technology, equipment and services.
Next IFEX and 73rd IFC 2025 in KolkataIFEX 2024 and the 72nd IFC in Bangalore have absolutely fulfilled the high expectations of many and reflected the good mood in the industry. Now it's time for everyone to stay tuned and implement! In 2025, IFEX and the 73rd IFC will take place in Kolkata and will be organised by the Eastern Chapter of the IIF. If the development continues, we are already looking forward to it!
Foundry industry India at a glanceIndia is the second largest producer of castings in the world with around 14.16 million MT p.a. (2022 - 2023)
Types of castings: grey cast 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: USD 20 billion
- Exports: USD 3.94 billion (2022 - 2023
- Buyers: Automotive 32%, mechanical engineering 7%, pipes and moulded parts 9%, agricultural machinery 8%, railway 6%, pumps 5%, valves 4%, electrical components 3%, energy 5%, sanitary 8%
- Centres of the casting industry: Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholhapur, Rajkot, Mumbai, Belgaum, Coimbatore, Chennai, Shivamoga, Hyderabad, Howrah, Indore, Ahmedabad, Faridabad etc.
Growth opportunities: defence, aerospace, railways, renewable energy, energy, start-up culture, infrastructure, household goods, wind energy, solar energy, etc.
