Raw material price hike forces foundry industry to curtail production

By Nayan Dave Despite increasing demand, foundries across the country are in the process of reducing production activities following an unprecedented hike in raw material prices. Three important centres for the foundry industries, including Kolhapur, Belgaum and Rajkot have cut production by 50%, claimed Devendra Jain, president of The Institute of Indian Foundrymen (IIF), adding …