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Odisha Play Key Role In Achieving $5 Trillion | Indian News | Business And Economy | Tech News
Odisha to play the key role in achieving $ 5 Trillion economy
#Odisha #aluminium #economy
Odisha to play role in boosting the economy
Bauxite is the ore from which aluminium is produced. Aluminium is a strategic metal for the country and is quite critical for all the key sectors that will aid in India becoming a $5 trillion economy — right from building and infrastructure to aerospace, electrical distribution and more. There is need for a holistic approach must be adopted for utilisation of India’s abundant bauxite resources and curbing unnecessary imports of this abundant ore. India is ranked fourth in the world in terms of bauxite reserves and has high quality metallurgical grade bauxite deposits with close to four billion tonne reserves. However, these abundant bauxite deposits are largely untapped, and the country is yet to leverage this natural wealth for economic growth and development.
At the same time, there have been continued imports of bauxite to meet the domestic need of existing and newly established industries. The country continues to heavily import bauxite for its industrial needs causing an estimated forex loss of over $571 million in the last six years alone, whereas Odisha has enormous potential to emerge as a manufacture of the base metal, India is in a unique position to leverage and become a manufacturing nation. However, there are certain regulatory challenges that the sector faces that need to be addressed to ensure that odisha plays a major role in contributing to a self-reliant India, yes there is a potential which is well placed. Sources said, Indian manufactures can import from neighbouring country Thailand but they found difficult to get from inside India, it is need to be addressed by the regulatory .India continues to import aluminium and aluminium scrap thanks to a low import duty. The concern is on, Indian aluminium one of the most expensive metals thereby discouraging manufacturers to source from IndBy VARINDIA| 40 views
Odisha to realize its potential to play role notified under the PLI scheme
#Odisha #PLIScheme #Aluminium
Odisha to play role in PLI Scheme
Today aluminum is the most used metal in the world after iron. Bauxite is the only ore of aluminium. Bauxite deposits of Orissa are of diverse parentage. Bauxite is the ore from which aluminium is produced. Aluminium is a critical for all the key sectors it’ll help in achieving ambitious growth plan of India, with the vision of a $5 trillion economy. The government has been announcing Production Linked Incentives (PLI) across sectors. Many sectors need aluminium as a raw material which will continue to be sourced through imports rather than local production unless these anomalies are urgently fixed. As India on the world map as a global aluminium hub, despite possessing one of the world’s largest deposits, the possible key to fast-track India’s development is being ignored as bauxite mining is yet to be prioritised.
This is critically required for proposed infrastructure development, power transmission, manufacturing, transport and defence. Further, aluminium is a critical metal, essentially required for achieving low-carbon footprint and renewable energy generation. Starting from consumer electronics, household appliances, cooking utensils, doors and windows, food packaging, foils, work stations, automotive, transportation, electrical to industrial uses in the form of industrial appliances, aircraft, defence, communication equipment to spacecraft everyone depends upon aluminium. When there is huge demand, then a question arises on why the aluminium companies in Odisha are focusing for exporting of Alumina and Aluminium to rest of the world .The report says, NALCO has established it’s footprint over a large geographical area covering countries in the South East Asia, Far East, Indian Sub-continent, the Gulf, China and USA.
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Q.NO.243 - Availaibility of Bauxite: Sh. Prabhatsinh Pratapsinh Chauhan: 21.07.2009
Watch Q.NO.243 - Availaibility of Bauxite: Sh. Prabhatsinh Pratapsinh Chauhan: 21.07.2009 With HD Quality
By Bharatiya Janata Party Delhi| 664 views
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