Bhubaneswar: Captains of aluminium industry have stressed on the need for establishment of an aluminium development council in the country.

Industry stalwarts in the aluminium sector, consul general of Italy, senior government officials, chief executive officers and senior executives of various organisations deliberated at the national seminar on development of special alloys and composites of aluminium, held in Mumbai on Friday and stressed on a whole new world of opportunities that lie ahead for the "wonder metal".

President of the Aluminium Association of India and chairman-cum-managing director of the National Aluminium Company (Nalco) Tapan Kumar Chand said: "Demand for high-strength aluminium alloy will increase by five-fold in the next 10 years.''

Expressing concern over low applications of aluminium (300 odd applications in India as against 3000 worldwide), Chand also stressed on the importance of research and development activities on various applications of aluminium alloys in various sectors. He also pitched for reduction of energy cost and course correction in tax structure to make this sector competitive.

He said the Aluminium Association of India would urge the central government for formation of the aluminium development council for protecting the interests of the aluminium industry.

Managing director of Hindalco Industries Limited Satish Pai expressed concerns over increase in coal price which affects the energy cost. Commenting on the recent decision of the US government's proposal to put restrictions on imported aluminium, he said Indian aluminium must now look for new markets in West Asia and Europe.

Consul general of Republic of Italy Stefania Costanza was upbeat about the prospects of knowledge sharing in Aluminium sector. She said: "Italy is second largest country in Europe in aluminium business and we hope for more collaboration with India in future on a sustainable basis."

Responding to the concerns, Union mines secretary Arun Kumar assured that auction route for commercial mining for coal mines will have checks and balances on the coal price, which is going to help the aluminium industry. He also praised the involvement of Italy in the growth of special alloys of aluminium. Managing director of Thyssen Krupp Industrial Solutions P.D. Samundra shared his long experience particularly in alumina and caustic soda industries.