Metal industry is the indispensable part of an economy. They form the backbone of industrial development of any country.
The aluminium industry in India experienced rapid success in the last decade owing to rise in advanced technologies and utilisation of both domestic and international resources. This had led to increased investor confidence. Since the consumption of aluminium is fairly low in India, the surplus production can be used to export aluminium to other parts of the world that uses it for manufacturing aircraft, automobiles, etc. Every small exporter can take the advantage of this global demand, http://e-tigers.net is a market place where exporters can attract global buyers.
Hindalco, Indal and Nalco are the prominent manufacturers of aluminium in India. Iron and Steel proved the most lucrative for the Indian metals and mining industry in 2008, generating total revenues of $64.7 billion, equivalent to 74% of the industry’s total value. Steel industrial reforms – particularly in 1991 and 1992 – have led to a strong and sustainable growth in India’s steel industry. From 1992 to 2008, the production of finished steel has grown from 14.33 million tonnes to 46.575 million tonnes. However steel production in India is hampered by power shortages and low labour productivity. India is the seventh largest steel producing company in the world.
The major producers of steel in India are SAIL, Tata Steel, RNRL, etc. Using copper in medicine is an ancient Indian practice. Copper industry in India takes up about 3% of the entire world market for copper. Sterlite, Hindalco and Hindustan Copper are the three major copper companies in India and they have contributed to India’s transformation in market status from net importer to net exporter. Other factors for the growth of copper include industrial development in India, domestic increases in the construction, power and telecommunications, and automobile sectors.
There have also been many acquisitions of foreign companies by Sterlite and Hindalco hence furthering India’s global presence in the copper industry. The brass industry in India has been hit by the economic slowdown following sharp erosion in its demand in the world market. This has led to drastic fall in prices and livelihood of many brass dealers being affected. India imports almost 70% of the total brass that it consumes. A sharp increase in the value of the dollar has also made the Indian imports more expensive.
Showing posts with label metal exporters in india. Show all posts
Showing posts with label metal exporters in india. Show all posts
Thursday, December 17, 2009
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