Automotive sector drives India's forging industry

Research and Markets has announced that India's domestic automotive sector and outsourcing have been the key drivers of growth for the forging industry in India, with consistent increase in production, capacity utilization and exports. The fortunes of the forging industry is on a rise due to the booming auto component industry with forging exports projected to touch the magic figure of US$5 billion, which is about 15% of the auto component exports by 2015. Along with this, ample scope for forging consumption in many other sectors is believed to open up big business opportunities for the industry. Considering the above, the demand for forgings is expected to be at least 16% per annum. Hence, the future looks rosy for the forging industry in terms of the expected surge in both global and domestic demand.Jordan Hydro 6 Sandals