National Start-up Day: Vedanta Aluminium fostering a strong start-up ecosystem to Make in India
16th January 2023
- Working with nearly 40 start-ups on bolstering manufacturing excellence
New Delhi;16th January 2023: On National Start-up Day, Vedanta Aluminium, India’s largest producer of aluminium, announced that it is working with nearly 40 leading technology start-ups, to collaborate with India’s rich start-up ecosystem and power the next phase of its growth journey. The company’s aspirations to be the world’s best and most sustainable aluminium producer is seeing it harness the potential of Industrial Revolution 4.0 and Web 3.0 for manufacturing excellence. Towards making the Aluminium Business a digital-first organisation, the start-ups are working in the areas of value creation, volume growth, cost efficiency, excellence in business and ESG (Environment, Social & Governance).
This initiative is a part of the company’s Vedanta Spark programme, a global corporate innovation & ventures programme, which offers venture investing, start-up incubation, pilot programs with start-ups on various business cases, and venture building programs with various universities to create a pool of new start-ups. From immersive safety trainings to just-in-time supply of spare parts through 3D printing, predictive & prescriptive maintenance, asset reliability and more, the company is deploying emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), edge computing, robotics, power electronics, visual intelligence and additive manufacturing.
Speaking about the initiative Mr. Rahul Sharma, CEO – Vedanta Aluminium said, “At Vedanta Aluminium, we aim to reimagine the role of entrepreneurship in the manufacturing industry, as a catalyst of innovation. With aluminium fast evolving as the strategic metal for a connected tomorrow, we are poised for exponential growth, with digital transformation of our plants at the heart of this journey. And therefore, we are working with nearly 40 leading tech start-ups who are bringing in cutting-edge technologies and their global expertise to enhance our agility and competitiveness.”
Pinak Dattaray, Founder & CEO of Ripik.AI, says, “At Ripik.AI, we build proprietary cutting-edge AI-based applications to drive meaningful KPI movement and business benefits. It is a privilege to work with Vedanta’s Aluminium Business, where we worked with the company to leverage the might of AI and improve efficiency of smelters. We look forward to deepening our relationship with the company and continue to build disruptive products which are pioneers in the aluminium and metals industry, globally.”
Snehendu Mondal, CEO of Satsafeti (Mondal Ventures LLP) added, “As a global industry leader, backed by a culture of innovation and excellence, Vedanta offers significant opportunities for the Indian start-up ecosystem. Satsafeti has partnered with Vedanta to strengthen the company’s safety culture with our state-of-the-art computer vision technology. With this collaboration, we aim to unlock greater value in the business and establish new industry benchmarks in operational excellence.”
In addition, to foster a culture of innovation and infuse design thinking amongst employees to turn them into intrapreneurs, Vedanta Aluminium runs vibrant Innovation Cafés across its business units. The Cafés see employees and business partners come together to pursue passion projects on various business cases and crowdsource internal expertise and solutions for the same.
Parallelly, with operations in rural hinterlands of the country, the company also nurtures a vast ecosystem of rural and micro-entrepreneurs in the regions where it operates. Vedanta Aluminium’s expansive value-chain, customer and supplier network has fostered thousands of MSMEs, some of whom have also gone on to become suppliers and business partners for the company.
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.27 million tonnes in FY22. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 4th in the Dow Jones Sustainability Index (DJSI) 2021 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
For more information, please visit www.vedantalimited.com
About Vedanta Aluminium Business:
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
For more information, please log on to www.vedantaaluminium.com
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This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
