The unpredicted events which occurred as a protest against setting up of Nano Plant at Singur really disappointed the Institute of Indian Foundrymen (IIF), since this ‘Rs 1 lakh car’ project taken up by Tata motors had given immense hope to foundry industry located at West Bengal, to develop a correlation with Tata motors. 

With the aim to display and exhibit the abilities and capacity of foundry industry and its suppliers, IIF would soon be holding an exhibition along with IFEX-2009, titled the 57th Indian Foundry Congress.

After the decision by West Bengal Govt. to encourage a foundry park in Howrah and approval by Tata to manufacture “Nano” at Singur, the congress was being held in Kolkata. 

It was recently reported by IIF, “Tremendous growth in the automotive industry in the northern, southern and western parts of India triggered the growth of the foundry industry along with modernization/technology development to maintain the required standard of the automobile industry. Eastern region was an exception where modern automobile industry did not set up manufacturing facilities.”

The recent fast and unpredictable price rise for all the key raw materials has led to the shaking of confidence of the industry, stated IIF. 

Talking about the price hike since last one year, pig iron’s price has gone up by 69 per cent, steel scrap by 67%, metallurgical coke 235%, ferro silicon 87 % and ferro chrome 180%.