India is set to witness burgeoning demand for aluminium as it strives to achieve 25 per cent of GDP from the manufacturing sector by 2022, according to a survey by the Indian Institute of Foreign Trade (IIFT).
The surge in demand will be led by the 'Make in India' initiative coupled with increasing urbsation, development of industrial corridors, rural electrification, smart city projects, housing for all, and various other infrastructural projects, it said.
The study provides an overview of Indian aluminium industry, analyses the efficacy of present policies with a focus on contemporary trade situation, and recommends suitable policy options to enhance competitiveness of the downstream industry.
"We have used data analysis to provide an overview of Indian aluminium industry in comparison with global aluminium industry. The study examines challenges faced by aluminium downstream sector and its potential to analyse the trade structure," said l Agarwal, Patron of Aluminium Secondary Manufacturers Association.
The study also discusses green properties of the metal and climate change-related issues to assess future path for Indian aluminium industry.
( With inputs from ANI )
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