The Indian foundry industry is the 3rd largest global producer with the production capacity of 10 million tons of castings for various applications in manufacturing sector (as per the world casting census reported by Modern Castings, USA in Dec 2014).
Auto & auto component sector consumes approximately 35% of the total casting produce. The demand of castings for the auto sector is likely to go up three folds in next 10 years.
Various global foundry players are establishing manufacturing set ups in India for outsourcing the cast components for their global operations and because of the promising potential the sector has other players are also looking forward to capitalize on such opportunity.
China ranks as the largest casting producer contributing approximately 45% followed by USA with a contribution of 12 % to the global production, whereas India produces only 10% of the global casting produce valued at approx USD 18 billion.
Direct exports from India of castings are approximately USD 2.2 billion & another USD 2 billion of finished products and sub assemblies made of cast parts. This reveals that there is ample scope for the Foundry Industry in India to improve its market share globally.
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