Green tech can spur growth: Vedanta chief

Says India should learn from China & Guinea

Visakhapatnam: The newly appointed chief executive officer of the Vedanta Resources Tom Albanese said that India should adopt new environmental technology to overcome the initial hiccups while developing major manufacturing units in the country.

Speaking at the inaugural session of International Bauxite, Alumina and Aluminium Society (IBAAS) Symposium on Technological Improvements and Market Developments in the Aluminium Industry here on Thursday, he said India has the best bauxite resources but unfortunately it remained unexplored.

He said China, which made no progress two decades ago, became world leader in production of aluminum now. Even a small country like Guinea (Africa), which initially faced challenges, made a remarkable advancement, Tom said. ``I have been travelling in India for the last two decades and it is pity that I see no development,’’ he remarked.

The new environment technology is in place and the communities, the main stake holders, and the corporate entities could co-exist without hurting each other interests, he said tangentially commenting on the stalled bauxite mining in the agency areas of the district.

India can also adopt the best practices available in US, Canada and Australia and make way towards the development, failing which the country would be forced to import the finished metals at high costs... Top companies have been evincing interest in India after the new Prime Minister Narendra Modi gave a clarion call to `Make in India’ and it is the time to grab the opportunities coming in the way.

He suggested that the Geological Survey of India should unearth unique resources in the country to attract the foreign investors.

Regarding his own company Vedanta Aluminum, Tom said in the last financial year the company manufactured 750,000 tonnes of aluminum and next year it would be hiked to 850,000 tonnes.