Hindalco-led investment aims to strengthen India's aluminium value chain, generate employment and boost downstream manufacturing in Odisha
The Union Budget 2026–27 allocated Rs 1,000 crore toward India Semiconductor Mission (ISM) 2.0, while the government has already approved 10 ISM projects worth Rs 1.60 lakh crore across six states.
The result is an ecosystem that is becoming increasingly efficient at assembling EVs without fully controlling the technologies that power them
The proposed project will comprise an alumina refinery with a capacity of nearly 4 million tonnes per annum (MTPA), an aluminium smelter of around 2 MTPA
The companies said the collaboration will initially focus on sectors including hospitality, residential communities, industrial facilities, institutions, remote locations and infrastructure
If critical minerals are recovered domestically, India can reduce a portion of its import requirements, lower pressure on foreign exchange reserves and retain more value within the domestic economy
The move comes at a crucial juncture. India has already crossed 150 GW of installed solar capacity and is pursuing an ambitious target of 500 GW of non-fossil fuel capacity by 2030.
The state-run power giant has cleared a major investment to expand its thermal power capacity, reinforcing its role in meeting India's rising electricity demand
