SME Times News Bureau | 21 Nov, 2019
Minister of Petroleum and
Natural Gas & Steel Dharmendra Pradhan on Thursday said that India could be
a net exporter of steel.
Speaking at the ISA Steel Conclave 2019 organised
by Indian Steel Association in New Delhi, Pradhan said “There is no reason, why
can’t we be net exporter in steel sector. For our nation to develop, we must
promote domestic industry and be a net exporter of steel.”
He said the Government is a facilitator, and it
will continue to help the industry in overcoming various obstacles. He called
the steel industry to promote localization, and do the hand-holding for the
ancillary sector.
He called upon the industry to think about
pooling their resources and developing the common carrier facilities.
The minister asked the Steel
industry in the country to work towards the mission of Green Steel.
He said “As a responsible
nation, we are contributing towards mitigating climate change. We have set an
ambitious plan of achieving 450GW capacity of renewable energy. I appeal to the
industry to work towards achieving the mission of “Green Steel”. Industry must
deploy technology, innovation to develop environment friendly processes.”
The minister said that the
Petroleum and Natural Gas Ministry has launched Pradhan Mantri Urja Ganga project
in the Eastern India, which can provide gas to all the Steel plants, located in
the area. Being an environment-friendly and affordable fuel, the Steel industry
should move towards it, replacing coal.
Emphasising the vital role of steel in building a
modern economy, the Minister said, "World is in midst of industrial
revolution 4.0. Big data, digitisation, artificial intelligence are
fundamentally changing the economy and society. Even in wake of such
large-scale disruptions, steel continues to play an important role in building
modern economy.”
Speaking about India’s economic transition, he
said, “Our Government under the leadership of Hon. Prime Minister Narendra Modi
is decisive, reformist and visionary. Working with India’s entrepreneurial
spirit with an Ispati Irada, we are on our way to realise Hon. PM Narendra Modi
ji’s vision of a $5 trillion economy.”
He expressed the confidence that the country will
achieve the target by 2024. Shri Pradhan said that the industry should realize
its potential and strength, and harness it in a big way.
On steel consumption in the country, Minister
Pradhan said “Steel usage in India is set to rise. We have launched a
collaborative campaign “Ispati Irada” for brand building to increase
appropriate usage of steel in the country. Welfare missions of the Government
will further give impetus to steel usage in the country.”
He said that there is proposal to invest Rs 100
lakh crore in infrastructure, which will involve lot of steel consumption. He
said that Indian economy is consumption-driven, and as the economy size
increase, the steel consumption is going to get big impetus.
Describing the recent decision to opt out of RCEP
as a sweetener for the industry, he said, “Prime Minister’s decision to opt out
of RCEP in its present form has again reinforced that for our Government. the
national interest is paramount. This move has been received well by all
stakeholders of our economy. This decision will ensure support to India's
varied sectors including steel."
On the recent decision of the Government to
reduce its stake in various public sector companies, Shri Pradhan said that the
Government has no business to be in the business.
The Minister said that the PSUs have to become
more competitive and productive, as their ownership rests with the common man
of the country.