Few months back a sensational comment was made by Vedanta Resources Chairman Anil Agarwal.
He describing aluminium as the ‘Future’.
To support that he said, consumption of Aluminium metal will surge from 2 million tonnes to 20 million tonnes (MT).
“India currently has 1.5 MT aluminium production only and the consumption is around 2 MT. It is going to be 20 MT. The whole thing (everything) will move to aluminium. From railway, construction, aerospace to automobiles,” Anil Agarwal said replying to a question on setting up small as well as medium firms in India’s manufacturing sector.
However, he did not say anything on the time period.
Talking at a CII event, Mr Agrawal said aluminium is the future of industry as it’s a light yet strong metal.
On investment he said, setting up one small and medium enterprise (SME) unit in the sector will need an investment between Rs 25-to-500 crore.
Vedanta Ltd is a part of the London-listed metals and mining conglomerate. It produces Aluminium through its subsidiary Balco in India.
When he was asked about the slump in mines and minerals sector on global and India arena, he clearly said it is the right time to build. He also mentions that he loves competition and important thing is opportunity. They can clearly grow in a slow market.
Agrawal also said for a better environment of business, government policies has to be opened and transparent.
Stressing on least government intervention in business, Agarwal said policies need to be open and there should be transparent environmental norms.
Any environmentalist if protest regarding Aluminium extraction that might harm environment then Agrawal has a clear answer to it.
He says technology has developed to such extent that anyone can extract natural resources from Earth crust without harming environment.
The Vedanta Resources Chairman also said that they in last 30 years have invested 2 Lakh crore in India in Aluminium, iron, zinc and oil and natural gas.