Editorial – April 2018

Generally, the Indian metals industry seems to be going well.

 

Due to increase in infrastructure projects, the demand for non-ferrous metals is increasing steadily. A lot of new applications for the industry sectors like extrusion, copper are being developed which are sure to give support to the demand curve. The most important factor is auto industry. Huge amount of castings go into a vehicle and to say so, foundry sector growth is largely associated with the performance of auto industry. Now auto sector fortune depends on sale which is influenced by road condition, bank interest rate as well as growth of economy in general. Considering all these factors, auto sector seems to be doing well these days and foundries can surely look forward to a bright future.

 

Although the metals industry is doing well, this does not mean that it is free of problems and issues. The first and foremost is lack of technological upgradation. Barring few top companies, most of the processing companies (like extrusion, drawing, casting etc.) still use outdated technologies and processes. If one wants to compete in global marketplace, the products have to be made using latest technologies and processes. A substandard product has no place at international level.

 

The second important problem is the lack of technical manpower. This is a real irony as on one hand we say that India has huge unemployment and on the other hand, we complain of not getting technical manpower to run metallurgical factories. This simply means that we should have more sector specific and specialized courses producing executives and technical people specifically trained to perform in that particular sector. Associations and other trade bodies should look into the possibility of opening and running such training centres. I am sure these will tremendously benefit the industry !

 

The third issue is market growth. This is more general in nature and is dependent on national economy in general. Most of the international agencies are bullish about Indian economy and have predicted a growth rate of around 7.5 % for the fiscal 2018-19. If we go by these predictions the Indian economy as well as the metals industry will do well in this fiscal !

 

Generally, the Indian metals industry seems to be going well.Due to increase in infrastructure projects, the demand for non-ferrous metals is increasing steadily. A lot of new applications for the industry sectors like extrusion, copper are being developed which are sure to give support to the demand curve. The most important factor is auto industry. Huge amount of castings go into a vehicle and to say so, foundry sector growth is largely associated with the performance of auto industry. Now auto sector fortune depends on sale which is influenced by road condition, bank interest rate as well as growth of economy in general. Considering all these factors, auto sector seems to be doing well these days and foundries can surely look forward to a bright future.

 

 

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