Press Releases

November 2021

This festive season, the forging and auto component industry is yet to witness healthy growth

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November 2021	November 2021

July 2021

Association of Indian Forging Industry (AIFI) raises its concern over high steel prices to the Honorable Prime Minister, Shri Narendra Modi

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July 2021	July 2021

 

December 2020

High Steel Prices Hammers Forging Industry in India; AIFI Demands Government to Ban Exports of Steel and Iron Ore

September 2020

Mr. Vikas Bajaj appointed as the new President for AIFI

February 2020

Corona Virus impacts Forging and Auto component Industries

The disruption caused by the Corona Virus has hit the Automotive industry and thus also affected the automotive component and forging industries. China accounts for 27 percent of India’s automotive component imports and this year, vehicle demand in the country is projected to decline by 8.3 percent.

November 2019

The festive season brings deceptive cheer for the Forging and auto component industry

The Indian Automobile Manufacturers reported a surge of 5-7% retail sales during this festive season. However, October 2019 wholesale still shows a decline 7-8% versus October 2018 for passenger vehicles 60-65% of the capacity of the forging industry caters to the Auto sector which has witnessed a weakening demand of around 25 to 30% on an average across sectors, with the highest drop being experienced in the offtake by the Commercial Vehicle segment at a level off 15- 18% of last year.

If the current scenario persists the industry anticipates further production and job cuts as some OE’s (Original Equipment) have already announced further curtailment of production for November viz October 2019

August 2019

Amidst Auto slowdown, Forging industry faces threats of production and job cuts

• The current slowdown in the auto sector has had an equivalent if not a higher impact on the forging industry, as the slowdown is across industrial sectors.
• Forging Industry provides direct employment to more than 300,000 personals in the country with an additional 60,000 contract employees
• 60-65% of the capacity of the industry caters to the Auto sector which has witnessed a weakening demand of around 25 to 30% on an average
• If the current scenario persists the industry anticipates further production and job cuts

January 2019

Association of Indian Forging Industry (AIFI) hosts the 7th ASIAFORGE 2019 to focus on global opportunities and challenges facing the forging industry

Editor’s synopsis:

India plays host to the 7th ASIAFORGE- 2019 after a gap of ten years ASIAFORGE is being held at Four Points by Sheraton, Mahabalipuram Resort & Convention Centre, Chennai from 18th to 24thth of January 2019 27 renowned experts to present technical papers on advancements in forging technologies & equipment.

75 participating companies to showcase the latest technologies and innovations in the forging industry. Over 700 delegates across 14 Countries

Indian Forging Industry:

As per the recent survey conducted by the forging association in September 2017, the estimated turnover of the 378 functional forging units across India in FY 2016-17 was INR 31,189 crore providing employment to over 200,000 people in the country. The report also suggests that the installed capacity also increased from 37.6 Lakh MT in FY 2014-15 to 38.5 Lakh MT with overall production of forgings increased from 22.5 Lakh MT to 23.9 Lakh MT.

Backed by surge in overall auto sales last year and renewed thrust on infrastructure development, AIFI Predicts impressive growth for the Forging Industry; anticipates approximately 10% demand growth in the new year 2019.

October 2018

Association of Indian Forging Industry (AIFI) is optimistic about industry revival

Backed by the good monsoon season and the Indian automobile sector driving in growth lane consistently for some time now with all vehicle categories reporting strong sales in January, has opened year 2018 on a robust note for the Forging industry. The surge in auto sales especially, the commercial vehicle and tractor sales, Indian forging industry is anticipating an improved demand / growth in the coming quarters.

November 2017

Association of Indian Forging Industry (AIFI) is optimistic about industry revival

Backed by the good monsoon season and surge in auto sales especially, the commercial vehicle and tractor sales Indian forging industry is anticipating an improved demand / growth in the coming quarters. According to the latest SIAM report, sales of total commercial vehicles rose by 6.44 per cent to 69,793 units in October. However, the passenger vehicle sales dropped marginally in October’17, the first decline in four months with manufacturers resorting to inventory correction. Meanwhile, Domestic tractor sales grew by 12.9% and stood at 10,001 units as against 8,859 in October last year.