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Forging and components industry to experience 60% decline due to electric vehicles: AIFI

The Association of Indian Forging Industry (AIFI) has witnessed a challenging time in the first half of 2022 as a result of increased input costs, particularly steel, aluminum, and nickel prices.

Components industry to witness 60% decline due to EVs: AIFI President

AIFI has expressed concerns to the government over high steel, aluminum, and nickel prices, as the increase in steel prices has damaged the Indian forging industry

Forging and components industry to experience 60% decline due to electric vehicles: AIFI

鈥� The increase in steel, aluminium, and nickel prices have hammered the industry in India

Aifi demands steel and iron ore export ban

The Association of Indian Forging Industry (AIFI) has demanded the government to impose ban on the exports of steel and iron ore.

Growth Opportunities

The forging industry is a major contributor to the manufacturing sector in India. The installed capacity of the Indian forging industry during 2012-13 was 3.8 million metric tonne (mmt) against which total production was 2.1 mmt. The production fell to 2 mmt in 2013-14 and is expected to increase marginally to 2.3 mmt during the current year

Forging Ahead

The Indian forging industry is poised to grow and see major investments for capacity expansion in the coming years. The Prime Minister?s ?Make in India? vision will be added fillip to the industry?s plans to diversify its focus into non-automotive and industrial segments apart from automotive sector.

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