The Indian foundry industry expects $3 billion of investment in another 10 years to meet the potential demand of 30 MT of castings.
- Currently, the installed capacity is 15 MT and annual production is 10 MT.
- India is the 3rd largest producer of castings globally and almost 60% of the casting is consumed by automobile sector.
- There are indications of revival in the automobile sector and new opportunities in defence procurement.
- The Indian foundries have sought anti-dumping duty on some castings imported from China.