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Consider the following statements regarding the aluminium industry.
1. The cost of production for India is presently higher than international prices.
2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.
Which of these statements is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding the aluminium industry. 1...
Aluminium industry in India
Introduction:
India is the fifth-largest producer of aluminium in the world. The aluminium industry is a key driver of the Indian economy, contributing significantly to employment and economic growth. However, the cost of production in India is presently higher than international prices.
Cost of production:
1. The cost of production for India is presently higher than international prices.
- The cost of production in India is higher due to factors such as high power cost, high capital cost, and the lack of an integrated supply chain.
- The Indian aluminium industry relies heavily on imported alumina, which is a key raw material, making it vulnerable to fluctuations in global prices.
- The high cost of production has made Indian aluminium less competitive in the international market, leading to a decline in exports.
2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.
- India's cost of production has been increasing due to factors such as inflation, rising labour costs, and the depreciation of the rupee.
- In contrast, the world's costs of production have remained relatively stable due to the availability of cheap and abundant raw materials, low energy costs, and advanced technology.
- The increasing gap between India's cost of production and the world's cost of production has made it difficult for the Indian aluminium industry to compete in the global market.
Conclusion:
The Indian aluminium industry needs to address the cost of production to remain competitive in the global market. This can be achieved through the development of an integrated supply chain, the use of advanced technology, and the development of domestic sources of raw materials. The government can also play a role in supporting the industry through policies that promote investment, research and development, and the use of renewable energy sources.
Introduction:
India is the fifth-largest producer of aluminium in the world. The aluminium industry is a key driver of the Indian economy, contributing significantly to employment and economic growth. However, the cost of production in India is presently higher than international prices.
Cost of production:
1. The cost of production for India is presently higher than international prices.
- The cost of production in India is higher due to factors such as high power cost, high capital cost, and the lack of an integrated supply chain.
- The Indian aluminium industry relies heavily on imported alumina, which is a key raw material, making it vulnerable to fluctuations in global prices.
- The high cost of production has made Indian aluminium less competitive in the international market, leading to a decline in exports.
2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.
- India's cost of production has been increasing due to factors such as inflation, rising labour costs, and the depreciation of the rupee.
- In contrast, the world's costs of production have remained relatively stable due to the availability of cheap and abundant raw materials, low energy costs, and advanced technology.
- The increasing gap between India's cost of production and the world's cost of production has made it difficult for the Indian aluminium industry to compete in the global market.
Conclusion:
The Indian aluminium industry needs to address the cost of production to remain competitive in the global market. This can be achieved through the development of an integrated supply chain, the use of advanced technology, and the development of domestic sources of raw materials. The government can also play a role in supporting the industry through policies that promote investment, research and development, and the use of renewable energy sources.
Community Answer
Consider the following statements regarding the aluminium industry. 1...
- The cost of production for India is presently higher than international prices.
- India's cost of production of aluminium has been increasing gradually while world costs remained static.
- The Indian capacity has increased substantially in 2014–15 and 2015-16 but its utilization has not improved; utilisation was nearly 100 per cent up to 2013-14 and has declined to 50 per cent by late 2015. This has happened due to the fall in global prices.
- The Indian aluminium industry will continue to face difficulty unless world prices increase because in the short run it is virtually impossible to reduce the cost of production.
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Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding the aluminium industry. 1. The cost of production for India is presently higher than international prices.2. India's cost of production of aluminium has been increasing gradually while the world's costs remain static.Which of these statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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