The Indian foundry industry has failed to reach great heights due to poor adoption of technology, Vikas Garg, President, Institute of Indian Foundrymen, and Managing Director, Forace Polymer, said.

Urging industry promoters to focus on upgrading the technology for future growth, he said: "3D (three dimensional) printing is going to be the future of manufacturing; when we move towards this, we will be able to make the product without a mould or casting. The Indian foundry sector lags behind in adoption of technology."

Garg was speaking at the inaugural session of the National Foundry Conclave.

This seventh edition of the conclave was organised by the Confederation of Indian Industry and the Institute of Indian Foundrymen at Le Meridien in Coimbatore.

Talent retention

Besides technology, the sector also lags in retention of good talent, he said, and urged the participants to consider ESOP (Employee Stock Option) as this would ensure their commitment.

The sector will need to grow three times in the next 10 years to meet the demand of the manufacturing industry, he said, and stressed the importance of promoting indigenous technologies and collaborating with institutions like CSIR and IISc.

He further emphasised the need to look at consolidation to attract PE funds.

Skilled manpower

Delivering the special address, the Past Chairman of CII Southern Region, C R Swaminathan, said that the industry should look at creating skilled manpower for future growth. Creation of facilities for training and skill development would ensure supply of floor level workers, and grooming of supervisory and lower middle-level employees is equally important, he added.

The theme of the conclave was 'In pursuit of knowledge'.

More than 500 delegates attended this two-day conclave, which is organised once in two years.

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