SME Times News Bureau | 18 Dec, 2019
Union Minister for Steel and Petroleum &
Natural Gas, Dharmendra Pradhan participated in the ‘Steeling India-2019:
Driving metal intensity in key sectors’ organised by CII in New Delhi.
In his inaugural address, Pradhan talked about
opportunities in steel sector of India, growing steel demand and how technology
and innovation can make the Indian steel sector more vibrant.
Speaking about innovation, the minister said,
“Innovation is the new weapon. More than resource abundance, scientific
innovation has played a major role in shaping of the new world. Our domestic
industry must leverage innovation and new technologies to identify sustainable
and cost effective options for steel manufacturing.”
Talking about steel usage in the country, Pradhan,
said, “India is a rapidly growing market. Our people have high aspirations and
rising purchasing capacity. This offers an unprecedented opportunity for the
domestic industry to expand and grow. Our steel per capita consumption which is
currently much lower than the global average is set to grow. We have
launched a collaborative campaign 'Ispati Irada' to increase appropriate usage
of steel. I am glad to see brand 'Ispati Irada' being used in this event”.
Expressing confidence that rural India will be
the next driver of steel demand growth, he said that rural India will play a
major role in driving steel demand growth.
Growing economic activity, implementation of
government schemes, rising incomes will drive steel usage in rural areas.
“Govt. schemes like Har Ghar Jal Yojana, Pradhan Mantri Awas Yojana etc. will
drive the consumption of steel in rural areas,” he added.
Speaking about greater efficiency in steel sector
the minister said that government is working on facilitating greater cost
efficiency, logistical efficiency in the steel sector.
He said both our public and private players are
involved in developing Syngas plants in eastern India that will help lower cost
for domestic steel manufacturing.
He further said, “Diversification of our coking
coal supplies is also one of our priority areas. For the past few months, we
have taken several initiatives and have been working closely with the industry
towards diversification of coking coal imports.”
The minister expressed confidence that driven by
prudent policy reforms by the government and the entrepreneurial spirit of the
industry, India will soon become a net steel exporter and also urged industry
to research into ways to improve manufacturing efficiency, logistics and reduce
cost of production.