India holds massive prospects for aluminium production as several applications will switch from steel: Chairman, Vedanta

On 16^th April 2022, the Founder and Chairman of Vedanta Resources Limited, Anil Agarwal exclaimed for more deregulation in India’s defence sector and the corporatization of defence factories to develop the nation self-reliant in terms of arms and weapons production.

India has 52 defence factories that produce weaponry and ammunition, while primarily they are functionalizing at the capacity of 10%, as reported by the Chairman.

While speaking at the launch of a virtual postgraduate programme for executives in London, Anil Agarwal commented, “We (India) have the potential to become the world’s largest arms and ammunition producer. If defence manufacturers are corporatized, a new way of thinking will emerge.”

He further stated that there is an immense expenditure in regards to the importation of petroleum and defence products in India, however, he remained optimistic about oil and gas production from India, as the country has 300 billion barrels of oil reserves.

“We need to produce at least 50% of the requirement for energy security,” the Chairman of Vedanta said.

He manifested confidence about the bauxite mine privatisation in India, as it holds enormous potentiality for aluminium production as the demand of several steel applications will switch to aluminium.

“Bauxite mining will open up in the next one to two years,” he added.