Here’s why India needs aluminium as its cornerstone to achieve her ‘Viksit Bharat’ vision
The non-ferrous green metal has changed the nation’s economic sustainability for countries like USA and UAE. Yes, we are talking about aluminium’s indispensability in domestic as well as commercial sectors across the globe. However, India is yet to utilise the full potential of one of the most promising base metals. With timely interventions, India can depend upon aluminium as the cornerstone of its Viksit Bharat vision, nurturing a bright economic future for the republic.
Recent global incidents have endowed India with a hoard of opportunities and challenges, wherein bullish trade dynamics in aluminium are resurging off the back of its versatile applications. China’s decision to put a stop to its export tax rebate policy is a significant development that is likely to increase the price of Chinese aluminium in international markets. This creates a potential opportunity for Indian producers. However, India’s aluminium industry is stagnating due to a surge in primary and scrap imports from both Free Trade Agreement (FTA) and non-FTA countries. This influx undermines local manufacturers and deters new investments in expanding production capacity.
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