Kolkata, Sep 11 (UNI) Refractory industries registered 17 per cent growth in production in the last fiscal as the production figure for 2007-08 was 1.30 million tonnes compared to 1.08 million tonnes during 2006-07.
This was informed here today by Dr A K Chattopadhyay, Chairman of Indian Refractory Makers Association (IRMA), after the 47th Annual General Meeting of the Association.
Dr Chattopadhyay said the sales turnover which was Rs 2370 crores in 2006-07 rose to Rs 3000 crores in 2007-08.
'' The growth in sales turnover which has been buoyed by the growth in demand of major consuming industries like steel, cement, aluminium and sponge iron has not been commensurate with the profitability of the companies due to compression in prices and abnormal increase in the price of raw materials and fuel,'' he observed.
Dr Chattopadhyay said the staggering rise in price of raw materials has greatly affected the profitability of all the refractory producers as there had been no corresponding increase in the price of the finished products.
Speaking on the occasion, Central Glass and Ceramic Research Institute Director H S Maiti said the challenge before the refractory industry both in terms of innovations in manufacturing as well as in application engineering were growing with a steeper slope.
" In order to combat this challenge it is essential for the refractory manufactures not only to have a well-informed and appropriately knowledgeable work force but also to maintain a strong indigenous R &D base to remain competitive in the market place whether local or global,'' Mr Maiti maintained.
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