Mumbai: Hindalco Industries managing director Satish Pai Friday advised the Indian aluminium manufacturers to explore new markets in Middle East and Europe.
Referring to the recent decision of the US government to put restrictions on imports of aluminium to that country, the Hindalco Industries MD said that the Indian players should look for new areas for marketing of their products.
Pai, while speaking at the Aluminium Association of India (AAI) national seminar on development of specially alloys and composites of aluminium, held here on Friday, expressed concern over the increase in coal price and said that it would eat into the margins of aluminium producers in India.
The union mines ministry secretary, Arun Kumar, who was the chief guest of the seminar, while responding to the concerns, assured that auction of coal blocks for commercial mining will have checks and balances on the coal price. He praised the involvement of Italy in the growth of special alloys of aluminium.
The consul general republic of Italy, Stefania Costanza, said that her country is upbeat about the prospects of knowledge sharing in aluminium sector. She said, “Italy is second largest country in Europe in aluminium business and we hope for more collaboration in future on a sustainable basis.”
Aluminium Association of India (AAI) president Dr.Tapan Kumar Chand Friday said that the Association would urge the Central government to constitute the Aluminium Development Council to protect the aluminium industry in the country.
Dr.Chand expressed concern over low applications of aluminium in India. According to him, out of 3000 applications used globally, India uses only 300. He, however, confident that the demand for high-strength aluminium alloy will increase by five-fold in the next 10 years. Chand also stressed on the importance of R&D activities on various applications of aluminium alloys in different sectors. Dr. Chand also pitched for reduction of energy cost and course correction in tax structure to make this sector competitive.
Thyssen Krupp Industrial Solution, India, managing director PD Samundra also addressed the seminar.
Inaugural session of the seminar commenced with the welcome address by AAI general secretary A.K. Murthy, and the final takeaway Session was shared between Hindalco Innovation Centre vice president Vivek Srivastava and AAI director general Dr. Pratapaditya Mishra.