Usage of steel should be promoted by cos: Steel Minister

The meet at Jind was organised to boost steel consumption in Haryana, by state-run steelmakers SAIL and RINL.

The Dollar Business Bureau

Chaudhary Birendra Singh, Steel Minister asked steel producers to find ways to ensure increased consumption of steel in the country. A statement released by SAIL at a customer meet in Jind (Haryana) on behalf of the minister said, “Domestic steel producers should take all steps to promote use of steel at the earliest as time is of essence in the fast changing business scenario.”

The meet at Jind was organised to boost steel consumption in Haryana, by state-run steelmakers SAIL and RINL. Suggesting that the two Indian steel giants should quickly stabilise their modernised facilities and ensure that their performance is maximised to strengthen the domestic sector, the minister said, “Domestic steel industry should exhibit a sense of urgency in leveraging their R&D strength thus improving their cost efficiencies.”

Elaborating on the opportunities that steel firms can get from Haryana, the minister said, that the state is an industrially as well as agriculturally developed state which is widening its scope of development for industries and this will present a good opportunity for improved steel consumption.

With regard to tapping demand in the state, SAIL said that Haryana has a good presence of auto ancillaries and automobile industries, which can with the help of the Centre’s Smart Cities Mission provide ample opportunities for many companies to increase their consumption of steel.

Haryana is noted for the presence of several national and international manufacturing companies from sectors that include automobile, agricultural equipments, engineering parts, heavy industries, paints, housing materials, tubes & pipes etc. The State is aggressively following the Centre’s Smart Cities programme and is keen to develop many cities as smart cities just as Karnal and Faridabad have been developed.

Laying emphasis on the strong opportunities the State provided in every sphere, SAIL said, “All the factors culminate to a strong opportunity for improved steel consumption in Haryana providing a conducive market for domestic producers.”

The Dollar Business Bureau - Aug 01, 2016 12:00 IST