DUBLIN, Dec 1, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Foundry Market in India 2017-2021" report to their offering.
The foundry market in India to grow at a CAGR of 10.08% during the period 2016-2020.Foundry Market in India 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the production value of castings manufactured by the foundry market in India. One of latest trends in the market is IIF in-plant training program. The IIF has established its center of education and training at Kolkata, which conducts various skill development programs regularly. A modular training program is conducted, which is equivalent to graduating in foundry technology and is also recognized by the Ministry of HRD. According to the report, one of the primary drivers in the market is make in India initiative. The automobile sector is responsible for generating 60% demand for the casting production in the country. Demand from sectors such as infrastructure, oil, and mining has slowed down. The automobile sector has shown promising growth in India since 2014. The foundries expect growth for both ferrous and non-ferrous castings in defense procurement.