New Delhi, Sep 8 : The demand for non-ferrous metals like aluminium and copper is likely to grow around 8 per cent over the next five years, KPMG said in a report.
The expected demand growth in the non-ferrous metals industry is even better than the healthy trend observed in the last five years, it said.
“Over 2016-17 to 2021-22, the demand for these metals is expected to grow by around 8 per cent in line with strong economic prospects, thrust on manufacturing sector, healthy growth in key end-use segments further aided by rising usage intensity,” according to the latest report by KPMG in India Non-ferrous metals industry: Building the future.
Asserting that in spite of weak global economic environment, it said the Indian economy has demonstrated buoyancy and has become one of the fastest growing economies in the world. “Amidst this scenario, the non-ferrous metals industry in India is expected to grow better than the trend observed in the last five years,” it said. In India, the demand for non-ferrous metals to a large extent is influenced by sectors including automotive and renewable energy. In the last five years, these end use sectors have grown at a healthy pace.
Source: PTI
