Indian Foundries on revival path
Indian foundries are reporting that business is returning though slowly.However,the demand for imports by USA & Europe has yet to pick up in a significant manner. The driver of growth is domestic automotive industry and the demand for spare parts. and low interest rate loans.
According to the industry reports, they are still operating at under 70% of installed capacity on an average.
The increased capacity utilization also augurs well for North American and European foundries as many in these countries might be forced to buy locally inspite of incompetitive prices.
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