The outlook is good for India’s foundry industry
India Foundry Market Analysis
The India Foundry Market size is estimated at USD 19.46 billion in 2024, and is expected to reach
USD 31.77 billion by 2029, growing at a CAGR of 10.30% during the forecast period (2024-2029).
The Indian foundry industry is one of the largest in the world, contributing significantly to the nation’s economy.
With over 5,000 foundries, the industry serves a broad array of sectors including automotive, agriculture, railways, and general engineering.
The demand for castings in India is driven by the rapid industrialization and infrastructural development within the country.
In a statement IIF said the Indian foundry industry currently has an annual revenue of $18 billion out of which $2.7 billion is exports.
Indian Foundry industry at a glance
- India is the second largest producer of castings in the world with about 14.16 million MT p.a. (2022 – 2023)
- Types of castings: gray iron, non-ferrous, cast iron, ductile iron castings, steel castings and various types of castings
- Foundries: approx. 4,500
- Employees: 2.0 million (500,000 directly in foundries)
- Turnover: 20 billion USD
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Source: https://www.foundry-planet.com/d/the-outlook-is-good-for-indias-foundry-industry
Major Foundry Clusters:-
The major foundry clusters are located in Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholapur, Rajkot, Mumbai, Ahmedabad,
Belgaum, Coimbatore, Chennai, Hyderabad, Howrah, Kolkata, Indore, Chennai, Ahmedabad, Faridabad, Gurgaon etc.
Each cluster is known for its products Typically, each foundry cluster is known for catering to some specific end-use markets.
For example, the Coimbatore cluster is famous for pump-sets castings, the Kolhapur and the Belgaum clusters for automotive
castings and the Rajkot cluster for diesel engine castings, Howrah cluster for sanitary castings etc.
Source: Foundry Informatics Centre | About the Industry
India Foundry Market Size (2024 – 2029)
The India Foundry Market is projected to experience significant growth over the forecast period, driven by technological advancements and
a shift towards more environmentally friendly practices.
Despite challenges such as rising raw material costs and a shortage of skilled labor, the market’s expansion is supported by the strategic location of major
foundry clusters across the country, each catering to specific end-use sectors
Source: https://www.mordorintelligence.com/industry-reports/india-foundry-market/market-size
IFEX 2025:
21st International Exhibition on Foundry Technology, Equipment, Supplies and Services
concurrent with 73rd Indian Foundry Congress will be an excellent platform for the Indian as well as overseas
companies to showcase their state-of-the-art technologies and services
being offered to this vibrant industry to get exposed to new business opportunities.
09 – 10 – 11, February 2025 |
Biswa Bangla Mela Prangan | Kolkata
Send all queries to: ifex@indiaexpocentre.com
IFEX 2025 Hotline: +91 93199 93264
Website: www.ifexindia.com | www.ifcindia.net