Success lies in effective partnership

June 29, 2015 1:27 pm

The Indian foundry industry produces various types of metal castings, cast components, for applications in power, auto, defence, railways, machine tools, agro machinery and tractor industry, earthmoving and mining machinery, electrical, textile and cement machinery, oil and natural gas and for various other industry sectors.
The foundry industry in India generates revenue of $ 18 billion with exports of over $ 2 billion producing around 9.5 million tonnes of castings annually. In an exclusive interview with Subhajit Roy, Vikas Garg, President at Institute of Indian Foundrymen details the roadmap for foundry industry in India in line with ‘Make in India’ movement.
Need better coordinationThe new focus on ‘Make in India’ augurs well for foundry industry as it is key feeder to engineering manufacturing. It is estimated that the demand will grow three folds in next 10 years which will throw open new opportunities and challenges too. The new niche markets will open to foundry sector such as application of light-weight and specially alloyed metal castings for reduced energy consumption. Similarly the advancements in downstream industry is creating new requirements of metal castings which can withstand critical applications in nuclear and ultra critical mega power plants which operate at much higher pressures and temperatures and also for critical applications in railways, aero space, nuclear power and defence sector etc. “This is the time to ask ourselves and introspect whether we are ready for future and prepare now for the emerging opportunities and work in that direction. All the stakeholders i.e. the industry, industry associations, and policy makers need to work in close coordination to make the best use of the emerging opportunities to facilitate manufacturing in India,” says Mr Garg.
Success pointThe new manufacturing policy envisages the increase in the share of manufacturing in the GDP to 25 per cent from current 15 per cent and to create 100 million additional jobs in next 10 years. Since all engineering and other sectors use metal castings in their manufacturing, the role of foundry industry to support manufacturing is very vital. It is not possible to achieve the above goal without the sustainable corresponding growth of the foundry sector.
Mr Garg aspires that the newly constituted Foundry Development Council by DIPP, Ministry of Commerce and Industry will be a very useful platform which will bring together various stakeholders to review and recommend the suitable policy interventions to government for enabling the foundry sector to realise its full potential and to contribute significantly to ‘Make in India’. 
To achieve success all stakeholders must work in partnerships. “The government needs to create the business environment, simplification of procedures, create infrastructure of high stature conducive to attract foreign multinationals and set up manufacturing bases for their global operations, enable the industry to upgrade the skilling and investments in productive, greener and environment friendly technologies,” Mr Garg opines.

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