IFO has been set up with the mission to support foundries to fight global competition and increase the GDP of the country in the manufacturing sector and to advocate & promote the use of energy efficient and environment friendly technology for sustainable development of the foundry industry.
To act as a nodal agency and serve as a think tank between foundries and Government agencies and undertake advocancy on different issues like duties, taxes, incentives, WTO/FTA concerns and other financial and commercial matters.
To support the foundry industry to improve it brand image and to improve overall competitiveness.
To initiate interventions to improve competitiveness.
To create foundry knowledge and promote international standards to the foundry human resource of the country through education, training, skills, research and development and to assist in the transforming the Indian foundry value chain to be at par with the world's best practices and bench marking.
To advise stakeholders on the use of energy efficient and environment friendly technology for sustainable development of the foundry industry including metal conservation through recycling and other technical issues.
To help and make suggestions on policy issues to attract investment including from overseas and simplification of procedures for investments & statutory clearances.
To assist in improving the demand/customer side expectation in terms of faster response time, identify new & light weight alloys with better wear & impact resistance, faster pattern development & prototypes conforming to international standards, better problem solving & complaints resolution, consistency in quality and more value-addition.
To organize and delegate participants to foundry related conferences, conventions, discussion forums, trade fairs & exhibitions, study tours, etc.