Delivering Growth


Diversified, near-term
capacity

1,064 ktpa (2010–11)
Zinc and Lead

1,200+ ktpa (2011–12)
Copper

2,500 ktpa (2012–13)
Aluminium

50 mtpa (2012–13)
Iron Ore

16 moz (2012–13)
Silver

5,500 MW (2013–14)
Commercial Energy

Source: AME, India’s Five Year Plans, India Infrastructure Report and Economic Survey of India

India
India's GDP expanded 7.2% in FY 2010 and is forecasted to grow between 7.5–8.5% in FY 2011. The acceleration of growth will be driven by favourable domestic structural factors coupled with strong foreign capital inflows and global cyclical uplift. The structural foundation of India's economic growth remains intact. The acceleration in infrastructure spending will be a key driver of elevated GDP growth.

While India has become more integrated with the rest of the world, its export-to-GDP ratio remains lower than those of other Asian countries. India's total exports account for around 20–22% of GDP compared with anywhere between 40–60% for other Asian economies including China, Korea and Taiwan.

India is therefore less exposed to a slump in external demand. The Eleventh Five Year Plan (2007–12) and Twelfth Five Year Plan (2012–17) of the Government of India provides for a total infrastructure spend from the government and the private sector of nearly US$500 billion and US$1,000 billion respectively in several areas including power, roads, railways and telecom. India's per capita metal consumption is comparatively much lower than that in developed countries and coupled with a huge infrastructure spend plan indicates a strong growth potential.

We believe these positive factors will enable us to continue to sell a majority of our metal production in India, where we realise a premium over the LME.