Mitsubishi Corp's India subsidiary to address soaring demand for coking coal, base metals

Mitsubishi Corporation's new Indian subsidiary, RtM Bharat, based in New Delhi, has started full-scale operations today, focusing on metal resources trading. As a Mitsubishi Corporation RtM International subsidiary, RtM Bharat takes over and expands the metal resources business in India.

Positioned in a growing Indian market, it aims to meet rising demand for metallurgical coal and metal resources like copper and aluminum due to steel production expansion and electrification. By establishing a strong presence in India, the company aims to understand market dynamics, contributing to global profits through cross-sectional collaboration within the Mitsubishi Corporation Group.

Mitsubishi Corporation India's primary focus has traditionally been on trading copper and aluminum ingots. However, looking ahead, the company is strategically shifting its emphasis towards copper concentrate and bauxite, essential raw materials. This strategic move aligns with the anticipation of expanding copper and aluminum smelting capacity in India.

Furthermore, the company remains vigilant in monitoring steel raw materials like coking coal, driven by the increased demand for battery raw materials resulting from the progression of automobile electrification. Additionally, attention will be maintained on iron ore, pellets, coke, and precious metals, which constitute the main products in the RtM portfolio.

The company's objective is not only to augment its current metals and resources trading operations by bringing in highly skilled professionals from external sources but also to cultivate new ventures and enhance industry insight.

India, the world's most populous country, ranks fifth in global GDP as of 2022. With a growing working population over the next two decades and ongoing urbanisation, electrification, and a rising middle class, the country anticipates sustainable economic growth.

President Shinji Hirota of RtM Bharat highlights the government's focus on infrastructure, aiming to propel economic growth and establish India as a key global manufacturing hub.

Hirota has been with Mitsubishi Corporation since 1992, serving in various roles at the Johannesburg Branch in South Africa and Mitsubishi Corporation in Australia, accumulating substantial overseas experience.

The choice of the name "Bharat" for the subsidiary reflects a deliberate decision to align with the local culture. Hirota elucidated the preference for "Bharat" over the more common term "India" in Japan, stating, "Indians refer to their country as Bharat, a term rooted in ancient Indian language. We believe in the significance of being deeply connected to the local community and users." The use of "Bharat" also gained attention when it was featured as the country nameplate at the G20 summit.

Note: This article has been published in accordance with an article exchange agreement between Japan Metal Daily and SteelMint.