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Wednesday, September 25, 2013

Anil Agarwal on India's Economic Prospects & MSD's Not Alone

Anil Agarwal is the Chairman of Vedanta Resources. He is nicknamed ‘metal king’ for his ownership of a clutch of metals companies, like bauxite and iron ore. In a free-wheeling interview with the Economic Times, Mr Agarwal ­­­rues that “the world wants India to remain an import-based economy”.

He further says that “India produces 130 MT of iron ore. And they are talking about depletion of iron ore reserves. India has potential to produce 600 MT of iron ore annually. We’ll have reserves for another 100 years at 600 MT annually. That is India’s capacity.” 

As a co-owner of an oil major (in partnership with Cairn), he says that, “We need 20 oil and gas companies in India, but we have only three — Reliance Industries, ONGC, and Cairn. Cairn produces oil at three dollars. Can you believe this? And India imports at 110 dollars a barrel. So, priority to local resources has to be given.” Read the complete interview here.

Also read, ‘India’s realty bubble waiting to burst’, from the pages of the Business Line.

M. S. Dhoni is sporting a new hairdo. There have been several before who have had a “good or bad hair day”. Treat your eyes to this DC slideshow on sportspersons with some real weird hairdos.


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