Aditya Birla Group Chairman Kumar Mangalam Birla said he is is optimistic about India-US relations under Donald Trump's presidency, adding that he is hopeful of expanding operations in America.
Kumar Mangalam Birla added that Vodafone Idea is on its way to make a turnaround. He was speaking in Mumbai on Sunday, at an event to mark the silver jubilee celebrations of the Aditya Birla Group's scholarships programme.
Birla Upbeat on Trump 2.0 Policies
Birla added that President-elect Donald Trump has been "positively" inclined towards India in the past, and shares a good bond with Prime Minister Modi. "We are looking forward to investing more in the US. Going by his (Donald Trump's) past record, he is positively inclined towards India and (besides that) he also has a good bond with Narendra Modi."
Aditya Birla Group has a strong presence in US through its metals and chemicals businesses - Novelis (owned by Hindalco) and Aditya Birla Chemicals.
He added that it is "too early" to comment on how Trump 2.0 will play out for the industry, but hoped that the policies will be pro-industry. "Going by the past experience with Trump, it was very positive. He is pro-industry," Birla said.
Birla's America Capex Plans
In June, the group announced an investment of $50 million in a manufacturing and research and development centre in Texas.
KM Birla confirmed that its recycling and rolling plant in Alabama is on schedule to start from FY26. "It is on time. It will be a high-technology, high-precision rolling mill and first kind facility." In North America, demand for aluminium consistently exceeds supply, and the country heavily relies on imports, Hindalco has mentioned in its annual report.
Novelis is executing capex worth $4.9 billion in USA to serve the growing demand for Aluminium. It has also invested $365 million to set up a recycling centre for automotive in North America. Birla says its investments are expected enhance America's ability to produce beverage cans and automotive‑grade aluminium sheets domestically.
Novelis Inc is the world’s largest aluminium recycler, and has shown improved EBITDA per tonne, driven by stronger demand for beverage packaging and record automotive shipments.
The US economy saw stronger than expected GDP growth in Q3 and Q4 for 2023, driven by
services growth and a resurgence in manufacturing.
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