The Union Steel
Minister Chaudhary Birender Singh addressed a press conference after holding a
Consultative Committee meeting on achievements of the NDA Government and
specially of the Steel Ministry during the 3 Years of the Government in
Dharamshala today. He said that the Indian steel industry is ready to become
the second largest steel producer in the world, leaving behind Japan.
Chaudhary Birender Singh said that
the steel sector will become more vibrant and dynamic after the ‘National
Steel Policy (NSP) 2017’ and ‘Policy for preference to domestically
manufactured iron & steel products in government procurement’ becomes
effective. The NSP reflects the aspirations of domestic steel industry for
achieving 300MT of steelmaking capacity by 2030-31. This translates
into additional investment of about Rs. 10 lakh Crore and 11 lakh additional
workforce getting employed in the
steel sector.
Speaking on the Steel Processing Unit
(SPU) project in Kandruri Distt. Kangra in Himachal Pradesh, he said that the
Steel Processing Unit will be operationalized within the next couple of
months. This involves an investment of around Rs. 76 crores. This unit will
produce value-added products like TMT bars approximately 1 lakh tonne per
annum.
Shri Birender Singh said that Steel
industry needs to go for value-added steel in order to improve competitiveness
globally. “For example SAIL & Arcelor Mittal would soon formalize the Joint
Venture for production of automotive-grade steel. This will be a big
step-forward under the Prime Minister’s Make In India Programme” Shri Singh
added.
The Minister also announced the
institution of Best Steel Structures Awards for best steel structures in PMAY
(Rural and Urban), building projects, and roads made with
steel reinforced cement concrete and other extraordinary structures using steel
in abundance. Steel consumption will get a big boost due to these initiatives.
Dr. Aruna Sharma, Secretary Steel,
and Senior Officials from the Ministry &the Steel PSUs were present on the
occasion.
Pursuing a clear agenda of growth,
the Ministry of Steel has had many firsts to its credit. In the year 2015, India became the third largest producer
of steel in the world. Recent data shows that India is now looking at
positioning itself as the second largest in the very near future.
In the last three years,
there has been capacity addition at a steady CAGR of about 7%. There has also
been an improvement in the overall capacity utilization.
India has emerged as a
net exporter of steel in the year 2016-17, with 97% increase in overall exports
and a 37% decline in imports of steel products over the same period in the
previous year.
While India roars on the
world stage through its Make in India campaign, it plans to increase steel capacity to
300 million tonnes and per capita steel consumption to a level of 160 Kgs by
2030-31.
The Ministry of Steel is
steadfast at making sure that doing business in the steel sector in India is
easier, more profitable, eco-friendly and sustainable while it makes a mark on
the global scene.
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YSKataria/Dharamshala/Steel
