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ITALY CONFIRMS THE 2007 EXPERIENCE AND GOES BACK TO IFEX INDIA
The date is fixed on the 7-10th February 2008 in Chennai for the fourth edition of Ifex India , one of the most important international exhibitions for Foundry equipment. The fair will take place in Chennai Trade Centre, a modern exhibition complex in a city that over the last years has become an important hub for foreign investments in the mechanics sectors. Ifex India takes place every year in a different location: the 2007 edition in Agra hosted 142 exhibitors, 35 of them from outside India. For the first time, an Italian official delegation of firms took part in the event, a unique case since last year there were no other official delegations from countries.
Given the success of last year‚Äôs experience, the Italian Trade Commission (ICE) decided to organise another official delegation for 2008 in cooperation with Amafond , the Italian trade association of Foundry industries. Created in 1946 on the initiative of a group of foundry industrialists, Amafond represents the leading Italian players that research, design and manufacture foundry equipment and machines, industrial ovens and foundry products.
Amafond industries‚Äô products are known for their high quality, derived from research and experience. The Italian industry in this sector comprises of 140 firms which employ around 10.000 people. In 2006 their global turnover was about 1,200 million euros ( 9% compared to 2005), with over 750 million euros deriving from sales abroad.
India is the fourth importer of Italian foundry products, and is undoubtedly a strategic market that can offer a high level of technologies as well highly specialised production units. The data on Indian imports of foundry equipment and machinery, growing strongly, as well as the new projects to build pipelines and railways confirm this.
At the moment India is the fifth foundry country in the world, but it seems destined for higher things as the local industry develops. Annual growth rates are around 6%, but according to estimates they could rise to 10% in the short term. In terms of the number of employees, China is the only country that beats the Indian industry in this sector, which is made of over 4,500 firms. A very large majority of them (90%) are small to medium enterprises which are embarking on a restructuring and modernisation process spurred by the liberalising policies of the Indian government. The growth of the industry goes hand in hand with the development of the Indian car industry, whose turnover is predicted to rise to 145 billion dollars in 2016 compared to 34 billion today.
The world yearly production of metallurgy products is around 80 million tonnes, worth over 100 billion dollars. World trade in this sector is estimated to be worth 10 billion dollars and is predicted to multiply over the next few years. The development of the industry, as well as the sharp rise in production costs have contributed to a gradual outsourcing of production in countries with cheap labour such as India, China, Mexico, Brazil and other Far Eastern countries.