The Indo-Italian Metal Hub event in Milan brought together on July 2nd industry players from India’s Odisha and Italy’s Lombardy regions to develop industrial ties and promote cooperation in technology developments.
With specific attention to the aluminium industry, the event focused on India’s desire to woo investors by promoting its “Make in Odisha” industrial development campaign. India is an important source of aluminium for Europe, especially at this current juncture when the market is in deficit.
Representatives of the Odisha government are currently on a worldwide road show visiting Italy, Germany and Saudi Arabia in July, as well as Asian countries in August to attract investment to the “Make in Odisha” Conclave.
The tour is taking place in the context of India’s aluminium exports jumping by 36% last year riding on the back of high global demand. South Korea, Malaysia and the U.S. attracted most of the exports.
The event called for two world regions – Europe and India – to work in together in the aluminium sector to break down barriers to the movement of technologies to India and surplus aluminium to Europe and support deeper integration in the global supply chains.
— Art Valley (@artvalley2) July 3, 2018
With EU aluminium users at risk, strengthening bilateral ties is especially important, not just in order to broaden the divide between supply and demand of primary aluminium and demand of primary metal, but also for the European customs tariff on unwrought metal.
Nalco, Hindalco, JS Group, Renovation, Daniel and C. Tenova, Vedanta, Foundry Ecocer, Sideridraulic are among the many Indian and European aluminium companies that participated in the Indo-Italian Metal Hub.
Earlier this year, major stakeholders from the Italian aluminium industry showed interest in participating in the planned Angul Aluminium Park in Odisha. The downstream park is expected accommodate three smelters with a total capacity of 990 thousand metric tons per annum.