Indian Forging Industry Scenario

As per the survey conducted by AIFI in 2016, the estimated turnover of the 384 forging units operating in FY 2014-15 was INR 27,835 crore including INR 6,100 crore contributed from exports, providing employment to approximately 100,000 people in the country.

Overall production of forgings increased from 21.1 Lakh MT to 22.5 Lakh MT in 2014-15 and the production figure for 2015-16 is estimated around 24.5 Lakh MT. With an installed capacity of around 37.6 lakh MT, Indian forging industry has a capability to forge variety of raw materials like carbon steel, alloy steel, stainless steel, super alloy, titanium, copper, brass and aluminum.

The overall capacity utilization of industry is also improved in FY 2014-15 stood at around 60% against 55% in FY 2013-14. Forging production in India likely to grow at CAGR of 9.5% for the period of 2015 - 18 and reach to 29.7 Lakh MT in FY 2017-18 from 22.5 Lakh MT during FY 2014-15.

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