SME Times News Bureau | 11 Jun, 2019
Making the steel
manufacturing sector competitive will help India's exports and manufacturing
sectors, said Union Minister of Commerce & Industry Piyush Goyal and Steel
Minister Dharmendra Pradhan.
In a discussion, both
the Ministers assured the steel industry that Ministries of Commerce &
Industry and Steel will make all efforts to ensure that engineering goods
exports double in the next 5 years and reach USD 200 billion by 2030.
This will not only
boost India’s exports but will also generate jobs in the manufacturing sector
especially the MSME sector, they opined.
Although India is
the second largest manufacturers of steel but India is also a net importer of
the steel industry and the Engineering Export Councils discussed in detail with
Commerce and Steel Ministers the protectionist measures being imposed by other
countries and the under-utilised capacity in steel manufacturing in India.
Goyal and Pradhan
discussed at length the measures that both Commerce and Industry and Steel
Ministry may take, both tariff and non-tariff, to reduce unnecessary imports
and boost exports.
The MSME sector
steel manufacturers urged steel producers to supply raw material at
concessional prices so that the MSME sector can compete in international
The meeting was also
attended by high officials from both the ministries, all members of EEPCs,
Indian Steel Association, steel makers and manufacturers and other associations
of the steel sector.