The Association of Indian Forging Industry (AIFI) has launched a signature campaign to press for urgent and strong Government intervention to ensure survival of the automotive-dependent sector which was rocked by large-scale layoffs and sharply declining demand due to the meltdown. AIFI delegations will also submit a charter of demands to policy makers in States such as Tamil Nadu, Karnataka, Gujarat, Maharashtra and Punjab urging for easing of banking norms for releasing credit, increased Government investments in infrastructure to help the heavy truck segment shift gear and an embargo on import of auto components.

“The economic slowdown threatens to wipe out the forging industry which is heavily dependent on the robustness of the automotive industry,” Vidyashankar Krishnan, AIFI president told a press conference on recently.The other important demands include transparency in pricing of furnace oil, diesel and petrol products.

They want to redefine Small and Medium Enterprises and to set the base turnover at Rs.100 crore instead of the present Rs.10 crore.

Published in The Hindu dated. 6.4.2009.

Edition: Tamil Nadu