Mumbai: On a day when India Steel conference commenced, Minister of Steel Chaudhary Birender Singh has made a strong pitch for making 2019 the “Year of Expansion” for the steel industry — expansion in terms of reaching out to new regions and areas of the country, to new markets and user industries and to other countries for exporting our steel. He called upon everyone to accelerate the pace of work in order to move towards achieving the target of 300 million tonnes by 2030-31, as envisaged by the National Steel Policy and added that this will require new ways of doing things, new thinking, new investments, new ideas and new synergies.
Singh stated that the opportunity offered could benefit foreign companies setting up manufacturing units in the country, with the government setting a target to produce 300 million tonne of steel by 2030-31.
A statement released by the steel ministry said that Singh urged the industry to bring in new technology and innovation for steel, so as to give a fillip to Make in India.
250 exhibiting companies from 15 countries take part
The India Steel 2019 conference is a three-day event organised by the Ministry of Steel with the objective of planning the future growth path of the steel industry. The exhibition was inaugurated by Singh in Mumbai and drew interest from over 250 exhibiting companies from 15 countries, along with 200 international hosted buyers to hold business meetings.
Products, technologies and the best practices of steel production in the world will be on display at the event.
300 million tonnes of steel by 2030-31
Singh stated that the opportunity offered could benefit foreign companies setting up manufacturing units in the country, with the government setting a target to produce 300 million tonnes of steel by 2030-31.
Singh added that the country’s steel industry has been robust, as the as the first nine months of 2018-19 recorded 8.4 percent growth in steel consumption and 4.5 percent growth in steel production.