An executive of Hindalco Industries Limited, Nilesh Koul, rightly pointed out at the Fastmarkets aluminium conference in Barcelona that India's aluminium industry future looks radiant amid a muted or downtrend global picture. Thanks to the infrastructure provided by the government, the Indian aluminium industry is growing to satisfy amplifying demand.
India is already the world's second-largest aluminium producer and the third-biggest consumer, with demand set to grow double over the next demand, noted Nilesh Koul, CEO of the group's downstream business. India's advantage is the incredible availability of energy, which is the most critical input required for aluminium production.
Mr Koul also shared at the conference that India would ramp up its metals consumption as China did. In this context, he specified that India's per capita aluminium consumption is 3.1 kg compared to the world average of 12 kg and China's 31.7 kg.
The Indian Government's investment in aluminium railways and its strive to build greener construction and electric vehicles have triggered the demand and consumption of aluminium, which will likely continue in the years to come. Aluminium demand in India is expected to jump two-fold by 2033 from the present 4.5 million tonnes to 9 million tonnes.
Some challenges the country faces in the aluminium industry are delayed project approvals, quality standards, and skilled labour shortages. Recently, Hindalco's expansion project of a flat rolled products plant got deferred because of the recruitment of about half of the required 3,000 skilled labours.
As a solution, Koul suggested that the private sector must join hands with the government to deliver suitable trainings to respective local residents.
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