Casting, irrespective of which type of casting one is talking about is one of the most flourishing markets in India, especially with the use of the casting products in the market is still there and will remain there for some time in order to come which would mean that the need for casting will exist for a good period of time in future and the casting industry will flourish as well as employment in this industry will remain.
Brief profile of Indian casting industry
Casting Companies India is a very flourishing industry with a turnover of 19 billion US dollar with 2.5 billion US dollar coming from export. Grey iron casting is the casting which provides the most money to the industry with approximately 68% of turnover coming from this type of casting product. There are about 5000 units with 90% of these being classified as MSMEs. Only 1500 of these units have International quality accreditation. On the global level, India is the second largest casting producer in the world with a reported 5.4% increase in production to 11.35 million metric tons only coming behind China on the total metric tons produced (47.2 million metric tons).
Production of casting in India by the type
Grey cast iron is the largest cast iron product in India with approximately 68% (7.89 million metric tons) of the total product coming from this type. Next comes non-ferrous casting products (1.22 million metric tons) followed by SG Iron (1.18 million metric tons) and steel (1.01 million metric tons). The least amount of casting products comes from malleable casting (0.09 million metric tons) produced as of 2016-17 period.
Export/import wise data of casting
Although there has been a decrease in casting export/import ratio when comparing the data from 2012-13 to that of data from 2016-17 but still casting industry cannot be said to be in a decline especially in export due to the fact that the difference is very small and the reason for the decrease comes from the increase in manufactured products rather than decrease in exported products.
From seeing the data one can deduce that Casting Companies India have been working hard to keep up with the demand of the product especially demand to come from automobile industry where casting product is used followed by agriculture, pipe fitting, railways etc. This has been helping in scaling up the casting business across the nation and the industry has experienced a rise in the people taking interest in this department of work.