Figure 3 gas sector and its effect on parallel


industries. Discussions held with many Indian foundries supports this. Though some foundries are reporting a 10-15% improvement over 2018, manufacturers do not anticipate casting requirements to show significant growth, but growth is expected. Almost 80% of the Indian investment casting market produces general industrial, commercial investment castings. Overall, market growth in advancing subsectors offset declines in others, resulting in what the industry is currently estimating an


approximate 2-3% growth over


2018 casting sales serving the general industrial sector in 2019. Further growth of 3-4% is anticipated in 2020. Casting sales remain extremely competitive and it is hoped that current growth levels can be maintained. There are approximately 200 investment casting foundries, primarily in the western part of India. Alloys cast are carbon & low alloy steels, 400 series stainless steel, 300 series stainless steel, cobalt based alloys, nickel-based alloys. A lot of these general commercial investment castings are exported through various channels primarily in Europe & US. Development of commercial investment casting


®


foundries in India offers competition to neighboring nations. Foundries manufacturing medical devices saw rise in production levels. Indian IC sales by region are


depicted in Figure 3.


Defense & Aerospace India is now turning into fast growing defense and aerospace hub. It has traditionally followed the transfer of technology model in the defense production ecosystem. India is expected to surpass the U.K. as the world’s third largest market for commercial airline operations. Growing focus on indigenous manufacturing and easing of FDI norms are likely to be the key driving factors. The government opened this sector to private and foreign investment. Further, it has sought to build a domestic industrial base and has set itself a challenging target of achieving 70% indigenization.


To


fully exploit this opportunity and fulfill offset obligations, original equipment manufacturers and their suppliers should leverage India’s competitive advantages in manufacturing and information technology by setting up units in


India. Currently all investment casting foundries producing castings related to aerospace, defense and nuclear power are state-owned. Indian foundries in this category are now developing advanced superalloy investment cast parts with superior metallurgical quality, yield and engine performance. Indian produced investment castings serving aerospace, defense and nuclear power sectors together is about 6% of the total investment castings produced in India. With Indian economic uncertainties


prevailing business conditions for industry are unpredictable. The overall India investment casting sales are expected to grow through 2020 in line with recent years. Overall, it is estimated that 2019 Indian investment casting sales realized approximately 3% growth from 2018 levels. Commercial casting sales remain extremely competitive and it is hoped that growth levels can be maintained. India is rapidly expanding its global presence as an aerospace and defense hub.


January 2020 ❘ 25


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