Mumbai, February 10 Aiming to connect manufacturers, suppliers, and global stakeholders, the Indian Foundry industry announced on Tuesday that it will be holding the three-day Indian Foundry Congress (IFC) and Indian Foundry Exhibition (IFEX), 2026, starting from Thursday.
"IFEX 2026 is more than just an exhibition; it is a convergence of technology, policy, and market opportunities. With India's foundry industry growing at over 9% CAGR and projected to reach USD 169 billion by 2047, this platform enables Indian and global players to engage meaningfully, adopt next-generation technologies, and collectively shape India's journey towards becoming a global foundry leader," said Sushil Sharma, President, The Institute of Indian Foundrymen (IIF) – the organizers of IFC and IFEX – in a statement.
The Indian foundry market, which was valued at USD 23.6 billion in 2024, is projected to reach USD 42.5 billion by 2029, growing at a CAGR of 9.4%, significantly outperforming global averages, according to the 'Bharat Foundry 360° Insight 2025 - 2047 Report' by the Indian Foundry Congress of India (IFCI).
According to the report, the long-term projections by Global Market Insights (GMI) suggest that the Indian foundry industry could reach USD 169 billion by 2047, positioning India among the top three foundry markets globally.
India produces approximately 12 million tonnes of castings annually, accounting for nearly 11% of global casting output, making it the second-largest casting producer worldwide.