Indian metal companies are gearing up for expansions in the current fiscal year, with a strong emphasis on growing domestic demand despite global trade headwinds, including the tariffs recently imposed by the United States.
Major players such as Vedanta , JSW Steel , Hindustan Zinc , and NALCO are focusing on India’s robust demand, the global competition for critical minerals, and strategic diversification across regions to fuel their growth, say analysts.
According to news agency PTI report, domestic steel demand is forecast to grow by 10% annually in the coming years. Similarly, aluminium demand is expected to increase at a compounded annual growth rate (CAGR) of 7.2% till 2030.
Industry experts predict that India’s aluminium demand will double every five years, supported by the Indian government's allocation of Rs 11.21 lakh crore for infrastructure development in the 2025-26 budget. This domestic focus places Indian metal companies in a strong position to weather the impact of global tariff challenges.
Vedanta Limited, a major player in the aluminium and oil sectors, has significant expansion plans for the fiscal year. The company is boosting its production capacity in aluminium to 3 million tonnes, driven by the growth of core sectors in India, including infrastructure, railways, automotive, and defence. Nearly 50% of Vedanta’s total aluminium production is sold domestically.
Vedanta’s expansion includes the acquisition of one of Odisha’s largest high-grade bauxite mines to support aluminium production. Additionally, the company is advancing the expansion of its BALCO smelter, with commissioning targeted in FY’26. Vedanta Aluminium aims to increase its share of value-added products from 60% to over 90% to capitalize on the growing construction and electric vehicle markets in India.
Hindustan Zinc Ltd. (HZL), a Vedanta subsidiary, has recently set up a 30,000-tonne per annum zinc alloy plant in Rajasthan to cater to the growing domestic demand for value-added zinc alloys. The company has set a vision to double its metal production to 2 million tonnes per annum within the next five years.
Aluminium giant Hindalco is focusing on expanding its copper, e-waste recycling, and continuous copper cast rod projects, which are expected to be commissioned in this fiscal year. Other companies like JSW Steel are also planning expansions, with JSW Steel investing Rs 45,000 crore in steel and energy, and Tata Steel working to expand the capacity at its plants in Neelachal Ispat Nigam, Kalinganagar, and Bhushan. These moves signal a broader trend of Indian metal companies targeting domestic growth while strategically expanding their operations.
Major players such as Vedanta , JSW Steel , Hindustan Zinc , and NALCO are focusing on India’s robust demand, the global competition for critical minerals, and strategic diversification across regions to fuel their growth, say analysts.
According to news agency PTI report, domestic steel demand is forecast to grow by 10% annually in the coming years. Similarly, aluminium demand is expected to increase at a compounded annual growth rate (CAGR) of 7.2% till 2030.
Industry experts predict that India’s aluminium demand will double every five years, supported by the Indian government's allocation of Rs 11.21 lakh crore for infrastructure development in the 2025-26 budget. This domestic focus places Indian metal companies in a strong position to weather the impact of global tariff challenges.
Vedanta Limited, a major player in the aluminium and oil sectors, has significant expansion plans for the fiscal year. The company is boosting its production capacity in aluminium to 3 million tonnes, driven by the growth of core sectors in India, including infrastructure, railways, automotive, and defence. Nearly 50% of Vedanta’s total aluminium production is sold domestically.
Vedanta’s expansion includes the acquisition of one of Odisha’s largest high-grade bauxite mines to support aluminium production. Additionally, the company is advancing the expansion of its BALCO smelter, with commissioning targeted in FY’26. Vedanta Aluminium aims to increase its share of value-added products from 60% to over 90% to capitalize on the growing construction and electric vehicle markets in India.
Hindustan Zinc Ltd. (HZL), a Vedanta subsidiary, has recently set up a 30,000-tonne per annum zinc alloy plant in Rajasthan to cater to the growing domestic demand for value-added zinc alloys. The company has set a vision to double its metal production to 2 million tonnes per annum within the next five years.
Aluminium giant Hindalco is focusing on expanding its copper, e-waste recycling, and continuous copper cast rod projects, which are expected to be commissioned in this fiscal year. Other companies like JSW Steel are also planning expansions, with JSW Steel investing Rs 45,000 crore in steel and energy, and Tata Steel working to expand the capacity at its plants in Neelachal Ispat Nigam, Kalinganagar, and Bhushan. These moves signal a broader trend of Indian metal companies targeting domestic growth while strategically expanding their operations.
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