New Delhi : The Nalco CMD, TK Chand, said that India would have to import $ 5 billion worth of downstream aluminium products after five years if the nation is not ready to substitute the items indigenously.
“Unless we focus on aluminium downstream unit, India will be importing around 5 billion dollar worth downstream aluminium products,” said Chand while addressing the National Aluminium Network Meet 2018, held here on Friday. “Moreover, Indian aluminium industry is at the high end of cost curve for production and the industry need to sustain and increase its margin by producing value added and high end downstream products,” he added. The Meet was organised jointly by the union ministry of mines and Jawaharlal Nehru Research & Development Centre(JNRCD).
The Nalco CMD said, “In the coming 5 years, aluminium consumption in India will be doubled from existing level of 3.6 million ton to 7.2 million ton.
Stating that the aluminium consumption will be doubled from 3.6 million tonne to 7.2 million tonne in coming five years, Chand underscored the need for promotion of downstream industry by mother aluminium plants through MSMEs. In this context he advised the captains of aluminium industry to identify technology needed for developing aluminium alloys for downstream units. This technology can be developed by JNRDC and transferred from abroad through collaboration. JNRDC can act as a catalyst and facilitator.
The additional secretary, ministry of mines, K. Rajeshwar Rao, also addressed the Meet.