More than 10,000 visitors and a record number of delegates and exhibitors participated in the three-day event that culminated on Tuesday.
Gandhinagar: The 70th Indian Foundry Congress, the 18th International Exhibition on Foundry Technology, Equipment, Supplies and Services (IFEX), and the Cast India Expo culminated on Tuesday.
Organised by The Institute of Indian Foundrymen, Western Region, the 70th Indian Foundry Congress and IFEX was the first large-scale physical industry of the foundry industry globally since the Covid-19 outbreak.
A record number of delegates, exhibitors, and visitors participated in the three-day conference and exhibition, displaying India’s atmanirbhar capabilities and opening up avenues for new business opportunities and collaborations. The Indian foundry industry is ranked second globally with the production of 10 million tonnes per annum and an annual turnover of $19 billion. The industry also caters to manufacturers of automobiles, tractors, power trains, railways, energy, and engineering overseas.
“The 70th Indian Foundry Congress and IFEX received very tremendous response. More than 10,000 business visitors participated in the mega conference and exhibition. We are confident that the mega event has more than served its purpose of reviving the foundry industry and discussing the various pressing issues facing it,” Subodh Panchal, Chairman, Organizing Committee, 70th Indian Foundry Congress, said at the valedictory session chaired by Vijay Menon, CMD of Kolhapur-based Menon & Menon.
During the three-day conference and exhibition, leading castings buyers from India and around the world projected a sharp rise in demand for castings in the coming months. Foundry is the mother of manufacturing industries, and the foundrymen expressed commitment to supporting the recovery of the economy. The focal point of various discussions happened across the 3-day event were.
- The issue of uncertainty in the supply of raw materials and volatility in prices.
- The foundrymen said the unprecedented supply and pricing challenges are hurting the industry and making it challenging for MSMEs and even large unis to maintain supply commitments.
- Foundrymen also assured to scale up production capacities to meet growing demand.
- The foundrymen called for the adoption of monthly price revision instead of the existing quarterly revision.
Both President Devendra Jain and Organizing Chairman Subodh Panchal wished casting buyers and foundrymen to work hand in hand for the better growth of the industry and nation.