The outlook is positive for India’s foundry industry

The Indian foundry industry has seen steady growth in recent years, driven by rising demand across various sectors such as automotive, engineering, energy and infrastructure. Many foundries have begun to modernise their production processes to become even more efficient and environmentally friendly.

The IFEX 2024 trade fair in Bangalore and the 72nd IFC, superbly organised and staged by the IIF Southern Chapter with IFEX Chairman Yogesh Kumar, have clearly confirmed that improvements in the foundry industry are now set to accelerate.

Technological progress, involving the use of automated production processes – instead of manual labour – simulation, the digitalisation of the process chain using software and ERP systems, and 3D printing, is becoming increasingly important. At the same time, environmental considerations relating to CO₂ reduction are becoming more important, particularly in the use of raw materials and consumables. Indian foundries are now increasingly turning to environmentally friendly materials, recycling and waste reduction in order to keep their environmental footprint in check.

A spirit of optimism across the country – a push for quality is needed

In my interview with the current IIF President, D.S. Chandrashekar, and the IFC Chairman, S. Rudre Gowda, it quickly became clear that India is on the cusp of a new era. Driven by an ambitious young start-up culture, there is a collective determination to rise to the challenge of growing organically and intelligently. This applies to all areas of the foundry industry, as the challenges and opportunities are immense – hence the motto of the 72nd IFC: ‘Unleashing Potential’.

During conversations 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 general consensus. Now it is up to the companies to take the initiative and implement their plans in a targeted manner.

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

With an annual production of 12 million tonnes of castings, India already ranks second in the world behind China, but quantity is only one aspect of this development. The focus is now on a decisive push for quality, to the benefit of Indian businesses, society and suppliers and service providers from all over the world.

Economists are forecasting 7.5 per cent growth for the Indian economy in 2024, with equally stable growth forecasts for the following years. This primarily concerns the domestic economy, particularly the expansion of infrastructure, transport, railways, and energy and communications technology.

In terms of foreign policy, India, as a non-aligned nation with a stable government—which is likely to be re-elected in 2024—enjoys the interest and favour of a wide variety of potential castings customers. Last year, castings worth US$3.5 million were exported all over the world, and here too, growth potential is emerging thanks to the steady improvement in quality standards.

If Indian foundries now consistently deliver on the promises made in previous years, we could be on the cusp of an ‘Indian decade’. This presupposes that companies in the foundry industry prioritise quality improvement and invest in technology, equipment and services.

Next IFEX and 73rd IFC in 2025 in Kolkata

IFEX 2024 and the 72nd IFC in Bangalore fully met the high expectations of many and reflected the positive mood within the industry. It is now up to everyone to keep at it and make it happen! In 2025, IFEX and the 73rd IFC will take place in Kolkata, organised by the Eastern Chapter of the IIF. Provided this trend continues, we are already looking forward to it!

GIndia’s foundry industry at a glance

• India is the world’s second-largest producer of castings, with around 14.16 million MT per annum (2022–2023)
• Types of castings: grey cast iron, non-ferrous castings, ductile iron castings, steel castings and various other types of castings
• Foundries: approx. 4,500
• Workforce: 2.0 million (500,000 directly employed in foundries)
• Turnover: 20 billion USD
• Exports: 3.94 billion USD (2022–2023
• Buyers: Automotive 32 per cent, Mechanical engineering 7 per cent, Pipes and fittings 9 per cent, Agricultural machinery 8 per cent, Railways 6 per cent, Pumps 5 per cent, Valves 4 per cent, Electrical components 3 per cent, Energy 5 per cent, Sanitary ware 8 per cent
• Centres of the foundry 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.