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INDUSTRY FOCUS

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INDUSTRY

Mr. Vikas Bajaj, President, AIFI (Association of Indian Forging Industry) said, “After
the second wave, the industry is still facing challenges. The Indian Forging Industry is
currently going through a difficult phase. The sector is always confronted with new
challenges. The industry is largely concerned about the lack of semiconductor chips,
which has also had an impact on exports. In addition, the increase in steel prices
has harmed the Indian forging industry. It is the most important requirement in
the forging sector and the current price increase has disrupted the supply chain.
The advent of “Electric Vehicles” will also have a direct impact on the forging
sector, as it will reduce demand for moveable parts used in vehicles, resulting
in significant unutilized forging capacity. However, the industry continues to
support our government’s green initiatives. Furthermore, we are optimistic about
2022, anticipating that the semiconductor shortage would be resolved by the
second or third quarter of 2022. On the new Omicron variant, I believe it will be
existing, and such variants will continue to emerge; we will have to live with it and
seek to keep our employees safe by adhering to all health and safety regulations.”

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