Driving The Wheels Of Components Manufacturing

Rahul Sharma, Chief Executive Officer, Aluminium Business at Vedanta Limited writes about the prospects of Aluminum as the metal of the future.

- Rahul Sharma

The world is experiencing a green revolution in the automobile sector with electric and hybrid vehicles taking centre stage. Aluminium is driving this change because it offers the fastest, safest, most environmentally friendly and cost-effective way to increase performance, boost fuel economy and reduce emissions while maintaining or improving safety and durability. For India to become a USD five trillion economy by 2025 and an economic powerhouse, the entire manufacturing sector has a crucial role to play. Auto components imports to India were to the tune of USD 17.6 billion in 2018-19, from China, Korea, Germany and Japan, which can be potentially substituted. The Indian auto component industry’s aspirations of capturing a significant share of the global trade calls for a renewed focus on localisation on every business front, particularly with respect to sourcing raw materials. There is immense opportunity for India to leverage domestic capabilities and potentially substitute automotive parts imports of nearly USD 12 billion.

The role of aluminium