Conference on Indian Metals Industry- Current Outlook & Future Trends

With the emergence of economies driven by industrialisation at the beginning of the twentieth century, countries with sound metal industries benefited from a first-mover advantage. Metals have been one of the core drivers of industrialisation. With huge deposits of iron, coal, dolomite, lead, zinc, silver, gold, etc, India is a natural destination for mining and metal industry. Among metals, steel has historically held a dominant position. As a raw material and intermediate product, production and consumption of steel are widely regarded as indicators of economic progress, industrial development and forms the backbone of any economy and is expected to witness growth in the coming years as government incentives increase

The Indian Government’s flagship programs - Make in India, National Capital Goods Policy, Development of 100 Smart Cities, Power for All - are all set to improve metal consumption within the next few years. The demand for zinc is also tied to the demand for galvanized steel that ensures infrastructure has a longer life and is corrosion-free. Other metals like aluminium in windows and doors, copper in pipes and alloys like zinc are also crucial to the infrastructure story. 

Furthermore, Railways is also geared up for a series of upcoming projects such as 100 per cent track electrification, dedicated freight corridors and high-speed rail corridors that will see a rise in the demand for zinc and copper. Electric Vehicles will open newer applications of such metals where we will see zinc-based storage batteries, aluminium supported chassis, copper wired harnesses and the use of rare-earth metals to manufacture the magnets for the motors. Moreover, Metal industry is going through an exciting transformation with the evolution of various emerging technologies such as robots, drones and IoT that provide business with valuable solutions

However, currently, the exploration and mining policies are centred around the mining of surficial minerals, more favourable policies that support the opening of exploration and mining of strategic minerals through global e-auction and allowing private players an opportunity to pick areas of interest, define the block, explore and mine to keep pace with the growing demand can be the real game changer for India’s dream of a $5 trillion economy.

To discuss the above and related issues, ASSOCHAM is planning to organise a Conference on ‘Indian Metals Industry: Current Outlook & Future Trends’ on 20th May 2022 in New Delhi.