The Association of Indian Forging Industry (AIFI) has launched a Signature Campaign pressing the need for Government intervention ensuring survival of the automotive-dependent sector. This sector bore the burnt as more than 50,000 people lost their job due to declining demand on account of economic slowdown. Mr. Vidyashankar Krishnan, President, AIFI, said, “Last year’s spiralling costs of steel had already brought the forging industry to its keens.” The following economic slowdown is another server blow and most of the units are working at 20-30 percent of installed capacity.      

Published in Business Line dated. 9.4.2009.