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Indian forging industry sees 20pct rise in cost - AIFI-The 20th China(Guangzhou) Int’l Forging Industry Exhibition
9/11/2018 锻造展- Forging Industry exhibition - Forging expo |
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PTI reported that the Indian forging industry has seen a 20% jump in costs owing to rising fuel and steel prices along with high power tariffs in Maharashtra however, despite this, the sector is expected to clock a 10% growth in this fiscal year. Mr Yash Munot, chairman western region, Association of Indian Forging Industry (AIFI), said “As compared to usual trend of low production during April-May period, this year has witnessed a continued higher demand during the first quarter. One of the main concerns in this region is the electricity tariffs which have gone up in Maharashtra since August and which are probably the highest in the country. Moreover the fuel and steel prices have also shot up significantly. All these factors combined have increased our costs by 20%.”
Munot said that AIFI has taken up the issue with the state government but is still to get a response.
Nevertheless, he said the industry has seen a good growth in the last six months, with demand coming from all the segments – heavy commercial vehicles, tractors and two and three-wheelers.
锻造展-第二十届广州国际锻造工业展览会
-The 20th China(Guangzhou) Int’l Forging Industry Exhibition
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