Coronavirus Impacts Casting Industry – Part 2

Coronavirus Impacts Casting Industry – Part 2

As the impact of Coronavirus continues to haunt the casting’s industry, there are a few things that the Indian casting industry can do to mitigate the crisis from a business perspective such as manufacturing disinfectant stands from aluminium, among other materials, with a reduced workforce and use of novel technologies. From an application point of view, the disinfectant stand can be installed in reception, sales counters, toilets, at cash desks as well as conference rooms.

The number of global conferences, trade fairs and exhibitions that were either cancelled or indefinitely postponed were the first signs that COVI9-19 displayed, but never did the industry was able to predict its severity in terms of lost projects, migration of labour, to name a few.

Another bad news is a few key sectors such as automotive industry deciding to stop or reduce production altogether even after the relaxation of lockdown in many countries. This can impact the casting industry significantly, particularly those foundries that pin their hopes on this sector. To be more precise, the demand of cast components will be further reduced.

It has also been emphasized that free movements of goods be maintained under any circumstances, as the supply chain of the casting industry is established based on the merits of division of labour. This would largely affect production and trade in several parts of the world.  Because stocks have been kept relatively low, production can almost come to a standstill.

The capital intensive metal foundry industry has a long way to travel in order to revive its hopes and turn normal again. The Central Government must focus on the growth area of the sector and draft a concrete policy with a sound action plan to revive the sector in the coming months. The key is to stay positive, turn innovative, and adopt the best practices to keep the ball rolling.