India’s domestic aluminum sector is poised for a robust 9% growth in the upcoming two fiscal years, propelled by the Government’s commitment to infrastructure development.
A significant portion of the domestic aluminum consumption is concentrate within the power transmission and distribution sectors.
The extensive infrastructure development initiatives, rising urbanization rates, Housing for All projects, railway investments in metro networks.
ICRA predicts that the emphasis on reducing vehicle weight to enhance fuel efficiency will lead to higher aluminum usage per unit.
While global aluminum consumption is project to grow modestly by 1% this year. China’s improved metal supply may lead to a surplus metal balance in 2023.