Indiana Steel Fabrication: Make import of key raw materialsStates Engineering

Indiana Steel Fabrication: Make import of key raw materials duty-free for foundry sector

By admin On February 7, 2017 0 Comment

Indian foundry sector is the feeder industry to the manufacturing sector as it supports sectors like auto, auto components, railways, electric, cement etc which are the major contributors to India’s GDP.

The Indian foundry industry is third largest globally with revenue at $ 18 billion & exports of approximately $ 2.7 billion. It employs directly & indirectly 2 million. Over last years, Indian foundry industry gradually rose from number fifth to second largest producer of castings globally.

The Government of India is taking several steps to promote Make in India, skill development and ease of doing business. To support Make in India, the foundry sector will need to grow at least 3 folds in next 10 years. Although, the auto & capital goods sectors have already drawn very ambitious mission plans but that cannot be realised in full measure without corresponding growth of foundry sector.

Indiana Steel Fabrication: Make import of key raw materials duty-free for foundry sector

Indiana Steel Fabrication: Make import of key raw materials duty-free for foundry sector

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