AIFI Association of Indian Forging Industry
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Forging Directory: An overview of The Indian Forging Industry            
Guidelines issued by Egypt for regulating Wood Packaging Materia...            
Withdrawal of Drawback from Chapter 72 (Iron & Steel)            
CST reduced to 2% on Inter-State Sales of Goods            
EEPC Monthly Export Returns can now be submitted on-line.            
International Autoshow-2009 at Chennai Trade Centre. Chennai, In...            
IIAPE 2009 - India International Auto Parts Expo 2009.            
LETTER TO PRIME MINISTER            
EEPC Metal Price Monitor – December 2008            
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Forging Industry cries for help            
Important circular of RBI: Lending under consortium arrangement/...            
Important circular of RBI: Rupee export credit interest rates- i...            
Important circular of RBI: Prudential guidelines on restructurin...            
Slump hits forging industry, units face closure            
Downturn: Forging Industry feels the heat            
Slowdown hits Punjab forging industry, workers may be shown the ...            
Insights Weekly Commodity Report 13th Dec. 2008            
Forging industry’s turnover to drop by 30-40% in 2008-09            
Interest Rate Subvention to Engineering Companies as well as SME...            
Welcome!!

Dear Members,


The present economic scenario is full of uncertainties. Some of the issues to be addressed would mainly depend on the following points-


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Global financial institutions have tumbled, threatening to pull down global economy itself.
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The first impact of this will be a severe credit crunch which we have already started seeing in both international and domestic markets.
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Equity markets have nose dived globally. Indian markets have been no exception.
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Commodity markets have started softening. Oil is now selling at half of $140. Metal markets have started falling internationally. Particularly, using scrap prices of steel have fallen by $300 per ton.
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All these are signs of troubled times at best and overnight recession in the worst case.
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Inflation rates, even in India, have started to fall on account of both high base effect as well as fall in commodity prices.
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Savings rates could see a decline of 5-6% due to lower public savings, lower private corporate savings and lower household savings. The GDP growth rate is expected to be 7.3%  or so.
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Shortage of power and lack of infrastructure will continue to affect growth of Industry.
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Reforms in the area of banking, insurance, pension funds, etc would be required. As our Prime Minister has said the global institutional frame work has to be revisited considering the new economic order.
More..

With best regards,
Vidyashankar Krishnan
President