CASTING & FORGING COMPONENTS IN INDIA-MARKET TREND

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CASTING & FORGING COMPONENTS IN INDIA– MARKET TREND

India is heading towards major growth and transformation with a vision to be a $5 trillion economy by 2024-25. The indicator of an economy’s progression is straight reflection of its manufacturing sector. This sector uses metals to the maximum possible extent and among the metals steel, aluminium, iron, and copper make up most of the metals used. Casting and forging play a significant role in the metals industry.

India being the third-largest Casting producer in the world, will open further opportunities for castings and forging industries both for domestic needs & exports. The casting and forging manufacturing processes are known to give intricate shape to industrial components. The existence of both the processes have been ever since the beginning of the industrial revolution.

Casting and forging are one of the major engineering segments supplying various components to industries such as Automobile, Defence, Aerospace, Petrochemicals, Oil & Gas, Power, FMCG, Marine, Paper, Chemicals & Fertilisers and Mines. In the industry, Forging players are taking initiative to acquire technology, knowledge, experience, and expertise. The Indian Casting and

Forging industry have gone through up-gradation to be in synchronization with the international practices. Given the enormous potential, frontline domestic players have started building up world-scale capabilities by either putting up Greenfield projects or acquiring sick global facilities and turning them around as business solutions for setting up a foreignbusiness in India.

Casting is highly suitable for the mass production of a certain industrial component as the same mould can be reused. On the contrary, Forging is the manufacturing process involving the shaping of metal using localised compressive forces in which thermal and mechanical energy is applied to ingots to cause the alloy to change shape when in a solid state. Research indicates that the Indian metal casting industry is expected to reach $17,608.2 million by 2028 a 6.7% CAGR during 2023-2028. With a similar trend, the Indian metal forging market is expected to reach $8.0 billion by 2029, implying a 10.69% CAGR during 2023-2029.

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ISO 9001:2015 Certification: What It Means for Your Business When Working with Genie Global Group

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Genie Global Group, a leading Global Sourcing and Contract Manufacturing company of engineering products such as Gears, is proud to announce that we have recently been certified with the ISO 9001:2015 certification. This certification is a significant achievement for our company and represents our commitment to delivering high-quality products and services to our customers. In this blog post, we will explore what this certification means for our customers and why it is important when doing business with Genie Global Group.

  1. Improved Quality Standards

The ISO 9001:2015 certification is an internationally recognized standard that provides a framework for implementing and maintaining an effective quality management system. This certification demonstrates our commitment to adhering to the highest quality standards in all of our business operations. With this certification, our customers can trust that we have implemented effective quality management practices that help us to consistently deliver high-quality products and services.

  1. Increased Customer Satisfaction

At Genie Global Group, customer satisfaction is our top priority. We understand that our customers have unique needs and requirements, and we work closely with them to deliver customized solutions that meet your specific needs. By achieving the ISO 9001:2015 certification, we are able to provide our customers with even greater confidence and assurance that we are committed to meeting your needs and exceeding your expectations.

  1. Enhanced Risk Management

Effective risk management is essential in any business operation, especially in the manufacturing industry. The ISO 9001:2015 certification requires companies to implement risk-based thinking in their quality management system. This means that we have implemented processes and procedures to identify, assess, and mitigate risks throughout our business operations. This helps to ensure that we can deliver products and services that meet our customers’ requirements while minimizing potential risks.

  1. Improved Communication

Communication is essential in any business relationship. The ISO 9001:2015 certification requires companies to implement effective communication processes throughout their business operations. This means that we have established clear and effective communication channels with our customers, suppliers, and other stakeholders. This helps to ensure that we can collaborate effectively with our customers to deliver customized solutions that meet your needs.

  1. Continuous Improvement

At Genie Global Group, we are committed to continuous improvement in all aspects of our business operations. The ISO 9001:2015 certification requires companies to implement processes and procedures to monitor and improve their quality management system. This means that we have established processes for measuring customer satisfaction, monitoring our business operations, and implementing corrective actions when necessary. This helps to ensure that we can continue to deliver high-quality products and services to our customers while improving our processes and procedures over time.

In conclusion, the ISO 9001:2015 certification is a significant achievement for Genie Global Group and represents our commitment to delivering high-quality products and services to our customers. By achieving this certification, we are able to provide our customers with even greater confidence and assurance that we are committed to meeting your needs and exceeding your expectations. We look forward to continuing to work closely with our customers to deliver customized solutions that meet their unique needs and requirements.

Click here to access the ISO:9001 Certificate.

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