MUMBAI | Sept 08, 2017: Indian demand for non-ferrous metals is expected to grow at 8 per cent between 2016 and 2021, in line with strong economic prospects and thrust on manufacturing sectors but stronger government support is required to motivate the industry, a report by KPMG said.

Non-ferrous metals include metals like aluminium, copper, zinc and lead that find application in many industrial and infrastructural uses like real estate, automotive, defence, rail, power etc.

According to the report, the performance of the non-ferrous metals industry in India has “far outpaced” the global trend owing to its huge raw material reserves, wide demand base and relatively low cost of production.

That said, downstream products like copper wire and aluminium foils are still dominated by imports as the downstream industry is relatively undeveloped in India.

The report also added that the country has registered a strong growth in recycling of metals for use. “India has seen a strong growth in the recycling industry. Over time the share of recycled metals has increased considerably and is now almost equivalent to the global level,” the report said. However it conceded that legislatory intervention is required to contain the level of scrap imports that still dominate the sphere.

(Source: http://economictimes.indiatimes.com/)