Wednesday, 16 Nov 2011
According to Mr Baba Kalyani former president of Indian forging association and CMD of India’s largest manufacturer and exporter of automotive components Bharat Forge Limited, the Association of Indian Forging Industry is demanding transparency in iron ore distribution procedures to create more value addition.
Mr Kalyani on the sidelines of the 20th International Forging Congress said that “We find pleasure in exporting our precious iron ore to China rather than converting it into steel. This is where you need a policy perspective where we need transparency.”
Mr Kalyani said “India has a policy that encouraged exports of iron and discouraged steel making. For instance, China has imposed a 40%t export duty on cooking coal because they do not want cooking coal to be exported out of the country.”
Replying to query, he said he was not demanding any policy on steel pricing, but was in favour of creation of a policy for national interest.
Mr Deven Joshi president of AIFI said that the total production of forgings in the country, which was 1.8 million tonne in 2009-2010, increased to 2.3 million tonne during the year ended March 2011 and is expected to touch 4 million tonne by 2014.
The Indian forging industry is expected to grow exponentially as the automobile industry is set to triple the output to 10 million vehicles a year in the next 8 to 10 years. The INR 15,000-crore Indian forging industry is set to witness a year on year growth of over 20% besides attracting investments to the tune of USD 3 million by 2015 for capacity expansion.
(Sourced from BS)
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4 comments:
India is such a growing market. Great post.
UGS Product Sourcing
forging is used for sizing, pointing, tapering, and otherwise shaping of the ends of rods or tubing.Forging
Thank You so much Admin, for such a nice description! The information you have provided in your blog is really useful for me. i am also belongs to the same domain or we you can say Die Steel Supplier . Waiting for new updates!
Yes you are right... Indian forging industry is growing very very fast brother. And one day it will reach the number spot compared to other countries.
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