Aluminium’s contribution in enhancing global competitiveness of Indian metal industry: Abhijit PatiMarch 2, 2021
Balconagar, Korba Chattisgarh [India] : Abhijit Pati, CEO & Director of Bharat Aluminium Company (BALCO), a global pioneer in the aluminium & power sector, represented the company at the 58th National Metallurgists’ Day (NMD) International Conference and 74thAnnual Technical Meeting (ATM). As a leader and stalwart in the aluminium industry, he led the panel discussion on ‘Enhancing global competitiveness of Indian metals industries’ during the event.
Organized by the Indian Institute of Technology Bombay along with the Indian Institute of Metals on the theme ‘Seventy-five and aspiring for global leadership in Metallurgy & Material Engineering’, the event was attended by eminent industry leaders. The conference was organised with the prime focus on recent developments in the field of non-ferrous & ferrous metallurgy and business sustainability.
Addressing the audience & panel experts CEO & Director, Abhijit Pati, said, ‘‘Aluminium industry is partnering with the government’s visionary initiatives of Make in India, Smart Cities, Power for All, indigenous space programs, domestic value addition, creating jobs and SMEs in making our country a self-reliant nation. Indian aluminium Industry has generated over 8 lakh jobs directly and in-directly and developed over 4000 SMEs in downstream sector. The clarion call of an Aatmanirbhar Bharat from our Honorable Prime Minister is seeing Indians working on a war footing to fulfill this vision. Aluminium industry has a strong output and employment multiplier effect on other key sectors. It has forward linkages with aviation, defense, auto, electricity, construction, packaging etc., and backward linkages with mining, refining, chemical industry, power, and machinery.’’
Mr. Pati also emphasized on BALCO’s continued efforts during the pandemic as aluminium is a metal of strategic importance to the country and a vital raw material for key industries like electrical distribution, transportation, aerospace, defense, building & construction, etc. As aluminium smelters needed to be operational 24*7, BALCO ensured the continuity of operations, keeping up this critical raw material for first use and end-use industry sectors.
Mr. Pati stressed on how classification of aluminium industry as a ‘Core Industry’, as recommended by NITI Aayog and Mines Ministry, and formulation of National Aluminium Policy (NAP) as recommended by NITI Aayog can place aluminium industry on priority status. Also, pricing strategy for raw materials – coal and bauxite, need to be restructured to solve the prevalent issue of raw material security. He also suggested the much-needed reforms on guidelines for boosting domestic scrap recycling and achieving quality standards for scrap usage/imports and ways in which export competitiveness can be enhanced in India through Remission of Duties or Taxes on Export Products Scheme exclusively for aluminium industry.
India’s 4th largest coal reserves and 5th largest bauxite reserves in the world along with its unique geographical location makes India a strategic location to become a major global low-cost aluminium production hub. Aluminium is one of the key growth sectors for India and possess a huge potential to contribute as a wealth creator for nation’s economic growth.
Bharat Aluminium Company Limited (BALCO) is India’s iconic aluminium producer. It is owned 49% by the Government of India and 51% by Vedanta Limited. Vedanta Limited is the world’s 6th largest diversified natural resources company and the largest producer of aluminium in India. BALCO operates a 0.57 million tonne per annum aluminium smelter in Korba, Chhattisgarh. It is also a leader in value-added aluminium products that find critical applications in core industries. With its world-class smelter and power plants, the company fulfills its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.