Bhubaneswar, Aug 14 (IANS) India's aluminium demand is expected to grow at 7-8 per cent annually, B.L. Bagra, chairman of the state-run National Aluminium Company (NALCO) said Tuesday.
"The demand in India is poised to grow at 7 to 8 per cent annually. The major drivers for this growth would be from power transmission, construction and automobile sectors," said Bagra at the company's 31st annual general meeting here.
He said the domestic demand is expected to continue its strong showing, on the back of robust industrial growth, mainly triggered by the power transmission industry. The domestic aluminium supply will continue to witness more metal from the expanded capacities of the producers.
However, the industry being cyclical in nature is passing through a phase of low global growth and the subdued prices accentuated further by rising input costs, bringing acute pressures on margins, he added.
In India, some brownfield and greenfield projects are likely to be commissioned and come on-stream that would add to surplus metal situation as country's aluminium production capacity is poised to rise from around 1.7 million tonnes in 2011-12 to 3 million tonnes in the next few years, he said.