The Association of Indian Forging Industry (AIFI) successfully hosted an insightful and interactive session titled "Current Industry Scenario, Innovative Technology & Upskilling" in Chennai, bringing together industry leaders, experts, and stakeholders to discuss critical strategies for ensuring global competitiveness. This event marks the fifth in a series of impactful sessions, following the remarkable success of previous gatherings in Ludhiana, Rajkot, Pune, and New Delhi.
The session gathered an esteemed assembly of industry professionals, including CEOs, COOs, CFOs, Plant Heads, HR Heads, and other functional leaders, fostering a dynamic platform for the exchange of ideas and strategies. The discussions centered around pivotal topics such as an overview of indirect tax, the changing policy environment, trade facilitation enhancement, technology revamp, compliance measures, and GST-related challenges specific to the forging industry.
The event featured three impactful presentations. Mr. Sundararaman R, Director (Indirect Taxation) at Price Waterhouse & Co LLP, delivered a comprehensive presentation on the current industry scenario sharing key insights and emerging trends focused on Government Policy frameworks to support growth and innovation, Strengthening trust between the government and the industry , Focus on promoting manufacturing in India and shedding light on evolving taxation frameworks and their implications for the forging sector.
Mr. S Muralishankar, Past President, AIFI & Executive Vice Chairman, Super Auto Forge Pvt. Ltd., Chennai said, "The forging industry stands at a crucial crossroads where technological innovation, policy adaptability, and continuous upskilling are no longer options but necessities. In the current Geopolitical environment Indian Forging Industry is at an advantageous position to grow. At AIFI, we remain steadfast in our mission to facilitate the industry by fostering collaboration, embracing cutting-edge technologies, and equipping our workforce with the skills needed to thrive in a rapidly evolving global landscape. This session in Chennai reaffirms our collective commitment of ensuring India’s forging sector remains a formidable force on the global stage”.
Another Presentation delved into innovative technological solutions aimed at tackling engineering and manufacturing challenges. Discussions highlighted the importance of automatic process optimization, advanced software tools for designing complex geometries, and leveraging cutting-edge technologies to enhance and modernize existing processes. The session underscored the urgent need for India’s forging industry to adapt quickly to an evolving business landscape shaped by rapid technological advancements, geopolitical shifts, and regulatory complexities.
The event also saw an insight on "Energy Derivatives and Price Risk Management," addressing financial risks, factors influencing the energy market, trends across various markets, risk management strategies, and initiatives from regulatory bodies.
A key highlight of the session was an address by Prof. (Dr.) Ashwin Mahalingam, Dean of Alumni and Corporate Relations at IIT-Madras, who underscored the importance of industry-academic collaboration and the reskilling of employees to keep pace with global innovations. His address emphasized the difference between incremental and radical innovation, Encouraging research and innovation , Promoting out-of-the-box thinking and the need for continuous learning and adaptability in an ever-evolving industrial landscape.
The session reinforced AIFI's commitment to empowering the forging industry through knowledge sharing, technological advancement, and skill development. AIFI continues to support the industry's growth and global competitiveness by facilitating meaningful discussions and collaborations.