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New Delhi [India], February 8 (ANI/GPRC): Leading foundry producers and importer countries like Russia, Iran, USA, UK, KSA, Malaysia, Germany, UAE, Turkey, Bhutan and leading Indian States such as Gujarat, Maharashtra, Karnataka, Tamil Nadu, Punjab, Rajasthan, and Jharkhand, among others, would be showcasing their strengths pertaining to new technologies, innovations, and sustainability at the 71st India Foundry Congress (IFC) and Exhibition (IFEX 2023) at India Expo Centre and Mart at Greater Noida (Delhi-NCR) from February 8 to 10, 2023. The mega event is being organized by the Institute of Indian Foundrymen (IIF). Nearly 12,000 delegates, exhibitors and other stakeholders including business visitors are expected to participate in the three-day Conference and Exhibition which would deliberate on the challenges and opportunities along with showcasing new technologies, trends, and other components of the industry which is pegged at nearly USD 20 billion in the country with exports of USD 3.5 billion in 2021-22. India is the second largest producer in the world with 12.49 million tonnes.
The Congress will be addressed by Rajnath Singh, Minister of Defence, Piyush Goyal, Union Minister of Commerce & Industry, Ajay Bhatt, Minister for State for Defence, Mahendra Nath Pandey, Minister for Heavy Industries. Policymakers, researchers, scientists, experts from NITI Ayog and other institutions, Industry captains, and professionals would participate in several different technical and other sessions during the event. Delegates from India and abroad, across various sectors using metal castings viz, auto, power, machinery manufacturers, railways, pumps, compressors, valves, etc will address the sessions. Technical sessions on foundry education & skill development, automation, make in India experiences, and quality management will reflect the core theme 'Arise, Automate & Aatmanirbhar.' The Congress and Exhibition would deliberate and showcase different dimensions of the industry through Caste India Expo (Casting Capacities and Capabilities), Cast Source Meet and B2B Meet, CEO Meet, Supply Chain Bazar (for the first time in the IFEX the complete supply chain of the foundry business is invited to participate." Highlighting the main features of the mega show, Pradeep Mittal, Chairman of Organising Committee, IFC & IFEX said, "Medium and Small Industries (MSMEs) constitute over 80 per cent of the industry. Union Budget 2023-24 has given a boost to the fund-starved sector with higher credit flow and by simplifying compliances. The launch of a revamped credit guarantee scheme worth Rs 9,000 crore for MSMEs. This would enable collateral-free credit of Rs 2 lakh crore loans to small businesses. The 71st IFCs/IFEX is being organised against the backdrop of 'Amrit Kaal' with a core theme of 'Arise, Automate, and Atmanibhar.' "Aatmanirbhar Bharat provides a truly watershed moment in our history to ignite the innovative entrepreneurial spirit of New India by focusing on strengthening innovations, infrastructure, environment, demand, technology and socio-economic growth, which will ensure an unprecedented wave of long-deserved growth and prosperity of the Indian industry. Hence, the theme of the event is aptly chosen as "Arise, Automate & Aatmanirbhar", aiming towards cutting down import dependence by focusing on substitution while improving safety compliance and quality goods to gain global market share," said Vineet Jain, President IIF. "Along with Auto and its components, Railways and Defence are major sectors for us. The government is focusing on indigenous defence production. In Union Budget the Defence Outlay has been increased to Rs 5,93,537.64 crore, which is 13.18 per cent of the total GoI Budget. This enhancement would have an impact on the foundry industry as well," added Dinesh Gupta, Secretary, IIF. The focus would on technological developments, cohesive collaborations, knowledge sharing, leadership development, capacity building, and sustainability "The USD 20.0 billion Indian foundry industry is now on the threshold of doubling its growth rate. We at IIF are committed to make the Indian foundry industry a casting superpower and global destination for castings. The major highlights of the mega event are Cast India Expo, Cast Source Meet, B2B meetings, Panel discussions and CEOs Meet which will be addressed by Ministers and Senior Government officials. The congress includes case studies & success stories along with the carefully selected technical presentations as a key attraction,' said, Saurabh Gupta, Chairman, IIF-Northern Region. Overview of the Indian Foundry Industry The Indian foundry industry manufacturers metal cast components for applications in Auto (80 per cent), Tractor, Railways, Machine tools, Sanitary, Pipe Fittings, Defence, Aerospace, Earth Moving, Textile, Cement, Electrical, Power machinery, Pumps / Valves, Wind turbine generators etc. Foundry Industry has a turnover of nearly USD 20 billion with export of approximately USD 3.1 billion. There are over 4500 units out of which 80 per cent can be classified as MSMEs. The Government's focus on 'Make in India,' Ease of Doing Business,' Infrastructure, and easing Foreign Investment norms promotes investment in manufacturing and other sectors which have positive cascading effects on the foundry industry. The major foundry clusters are located in Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholapur, Rajkot, Mumbai, Ahmedabad, Belgaum, Coimbatore, Chennai, Hyderabad, Howrah, Kolkata, Indore, Chennai, Faridabad, and Gurgaon, among others. Typically, each foundry cluster is known for catering to some specific end-use markets. For example, the Coimbatore cluster is famous for pump-sets castings, the Kolhapur and the Belgaum clusters for automotive castings and the Rajkot cluster for diesel engine castings, the Howrah cluster for sanitary castings etc. The industry employs 5 lakh people directly and 15 lahks indirectly. Sectors like Auto & Auto Components, Tractors, Construction Equipment, Machine Tools, Capital Goods, and Defence & Railways are the main growth driver of the industry. The Institute of Indian Foundrymen was set up in 1950 and registered as a society in West Bengal under the Societies Registration Act XXI of 1860. It has an enviable national spread of four regional branches and 27 state chapters. Its current membership numbers over 3500. IIF is also a member of the World Foundrymen Organization (WFO). This story is provided by GPRC. ANI will not be responsible in any way for the content of this article. (ANI/GPRC)
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