'Indian non-ferrous firms investing abroad'

The BRIC countries including India showed a pattern of growth while all other countries are facing economic crunch and slowdown.

India has been a preferred destination foreign investments. Many non–ferrous companies of India too have started investing and acquiring mines in UK, USA and Australia said L Pugazhenthy, president, Indian Institute of Metals and Executive Director.

He was speaking at a seminar on ‘non ferrous metals and global meltdown –India‘s strategies’, organised by Non Ferrous Division of the Indian Institute of Metals (IIM) in Hyderabad today.  

P Parvathisem, former president of IIM and former chairman of NALCO said that India remained unaffected by the global meltdown due to various regulatory and control mechanisms in the country. India witnessed substantial progress in zinc and copper production and have to invest in exploration and mining. India is endowed with rich deposits of aluminium and but there is a need for research for making alumina from it.