Steel industry needs to become highly competitive: Steel Minister
The Dollar Business Bureau
Steel Minister Chaudhary Birender Singh said on Tuesday that in order to become a world-class steel producer, Indian steel industry needs to become highly competitive and has to set benchmark parameters.
“Northern region of the country makes up for about 40% of steel consumption. The local steel industry contributes 2% to the country’s GDP and has huge potential. However, there is a need for innovation and diversification to create demand in the industry,” Singh said.
“Indian steel industry has to become highly competitive and it has to benchmark the parameters for becoming a world-class steel producer,” he said, while inaugurating the 2nd regional conference on ‘Make in India-Make in Steel ’and‘ Doubling per capita Steel Consumption’ in Ludhiana Punjab.
The industry has to fight and compete with other sectors supplying substitute materials for making steel, he added.
Outlining the unique features of steel including life cycle cost, reusability, recyclability, durability and strength, the Steel Minister said that the structures of steel have a long life span, are less to maintain and also offer smart solutions. “
Steel can be used for building bailey bridges, pre-fab structures, steel reinforced pavements, furniture etc. The metal can also be used for making food-storage silos, pipes for supply of drinking water and tanks for water storing,” he said
Singh further said that FCI is planning to build 100 lakh tonnes of steel silos by 2020 and the northern region can largely contribute to it.
He also praised the secondary industry in the northern states that use scrap for making steel thereby cutting down dependence on coking coal which is cost effective too.
“The landscape of steel industry has undergone tremendous changes and more plants that use melt and manufacture technology should come up.”
The conference was organised by the Ministry of Steel. The State Minister for Steel Vishnu Deo Sai, Steel Secretary Dr. Aruna Sharma, SAIL Chairman P.K. Singh and delegates from Indian Steel Association and representatives from private sector were present in the conference.
