Association of Indian Forging Industry (AIFI)

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Chennai -July 02, 2018: The Indian automobile sector is currently driving in growth lane in the new fiscal year with robust sales growth across all vehicle categories;The forging industry has opened year 2018 on a robust note. Compared to usual trend of low production during April-May in a fiscal year, 2018-19 has witnessed a continued higher demand during the first quarter. The surge in auto sales especially, the commercial vehicle and tractor sales has resulted inan improved demand / growth for Indian forging industry.
According to the latest SIAM report, the commercial vehicle segment, which recorded smart growth since the past few months, grew by 82.79percent in the new fiscal year (April and May 2018).The passenger vehicles segmentrose by 6.35 Lakh units to 7.06 Lakh units in April - May 2018. In the tractor segment domestic sales for April - May 2018 were 1.51 Lakhunits registering 31.08 % growth.
Sharing his thoughts Mr. S Muralishankar,President of Association of Indian Forging Industry, said,"Indian Forging Industry is one of the key players in the auto component manufacturing sector and a major contributor to the Government's Make in India initiative. The growth in the new fiscal can be attributed to the surge in sales of vehicles across all segment in the last quarter which is continuing in the new fiscal across all categories. It has provided a strong impetus to the forging industryand as a result, the demand for forgings has been on the rise both in domestic market. The export of forging has also witnessed an increase in demand from both Europe and North American markets. Backed by these strong demands the forging industry is likes witness to a growth of more than 10% in the new fiscal year.

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