India’s Foundry Sector Set to Script a New Chapter of Growth Rapid Momentum of India’s Foundry Industry Towards 2047
Mumbai :
As the world’s second-largest casting producer, India’s foundry industry has entered a decisive phase of accelerated growth. According to the “India Foundry 360° Insight 2025–2047” report released by the Indian Foundry Congress of India (IFCI), the sector, valued at USD 23.6 billion in 2024, is projected to expand to USD 42.5 billion by 2029, reflecting a robust CAGR of approximately 9.4%.
The report further highlights that by 2047, India’s foundry industry could reach a valuation of USD 169 billion, firmly positioning the country among the top three global foundry markets. At present, India produces nearly 12 million tonnes of castings annually, accounting for 11% of global casting output. With around 4,500 foundry units spread across the country, the industry not only drives industrial growth but also provides direct and indirect employment to over 2 million people.
Rising demand from automobiles, electric vehicles, electronics, and renewable energy sectors, coupled with government initiatives such as Make in India, PLI schemes, and the adoption of Industry 4.0 technologies—including AI, IoT, robotics, and 3D printing—is steering the industry towards high-value, sustainable manufacturing.
The upcoming IFEX 2026 and the 74th Indian Foundry Congress, scheduled to be held in Mumbai from 12 to 14 February, will serve as a powerful platform to showcase this transformational journey and further strengthen India’s march towards global leadership in the foundry sector.
