Suppliers are building up their capability to roll out models for various applications.
India's fastener industry is expanding its selection and production capacity, optimistic that demand will continue to strengthen in 2011. Many companies are expecting an increase of more than 20 percent in output and exports, with some even anticipating the surge to exceed 50 percent.
The automotive sector is projected to be a major source of additional orders. The telecommunications, construction, electronics and textile machinery industries are likely to boost sales as well.
Several challenges, however, threaten growth. Foremost among these is the higher cost of steel, which is putting pressure on margins. Insufficient power supply is another hurdle.
To meet the requirements of various sectors amid these difficulties, the industry's major players are setting up manufacturing facilities equipped with the latest technologies.
At GDPA Fasteners, resources emphasize larger models and finer threads. One of its R&D thrusts is to be able to produce bolts up to 75mm in diameter and 2,000mm in length.
The enterprise is also offering new environment-friendly finishes such as G-Blu passivation, which is designed to provide better corrosion resistance than coatings based on conventional hexavalent chromium.
Micron Precision Screws Ltd has invested in infrastructure to support the manufacture of models for automotive and general applications. Production facilities include multistation bolt-making equipment, flat and circular thread rolling machines, and a turning center.
The company follows ISO 9001:2002 and has recently fulfilled the requirements of Six Sigma. At present, it is working toward ISO/TS 16949, ISO 14001 and OHSAS 18001 compliance.
Lakshmi Precision Screws Ltd, catering to the automotive, wind energy, agricultural and machinery sectors, has engaged in joint ventures and license agreements to enhance R&D capability.
Under efforts to boost competitiveness, the company is offering cold-forged high-tensile steel fasteners with M1.3 to M30 diameters and lengths between 6 and 300mm.
There are about 155 suppliers of fasteners listed in EEPC India. In addition, the unorganized sector includes more than 500 enterprises, most of which are SMEs.
The former manufactures mainly high-tensile steel products, while the unorganized sector rolls out versions in mild steel. The selection comprises threaded and nonthreaded types.
Exports account for approximately 20 percent of India's fastener annual output. In the 12-month period ending March 2010, overseas shipments exceeded $253 million. Deliveries between April and August 2010 reached $131.1 million.
Note:This article was originally published by Global Sources, a leading business-to-business media company and a primary facilitator of trade with China manufacturers and India suppliers, providing essential sourcing information to volume buyers through our e-magazines, trade shows and industry research.
All price quotes in this report are in US dollars unless otherwise specified. FOB prices were provided by the companies interviewed only as reference prices at the time of interview and may have changed.
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