India Government Unveils Main Focus Areas for Steel Sector in 2022

Further, he reminded public sector undertakings (PSUs) and key private players to reduce imports of special steel, in a bid to boost domestic steel sector in the country.

SEATTLE (Scrap Monster): The Indian government announced three key focus areas for the country’s steel sector during the forthcoming year. The key focus areas in 2022 would be to increase per capita steel consumption, boost production of special steel and ensure raw material security.

According to Faggan Singh Kulaste, Minister of State, Steel Ministry, the government will try to find new markets as steel production in the country is set to surge significantly over the next year. He noted that the steel sector in the country is full of opportunities and that it must aim to reach the topmost spot, as far as production of quality steel is concerned.

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Further, he reminded public sector undertakings (PSUs) and key private players to reduce imports of special steel, in a bid to boost domestic steel sector in the country. They have already been told to increase their capital spending and outputs, he added. The country’s current steelmaking capacity is at around 143.9 million tonnes per annum, whereas its per capita steel consumption stands at around 72.3 kilograms, Kulaste noted.

In accordance with the previously announced National Steel Policy, the country targets to ramp up its crude steel production to 300 million tonnes and domestic per capita steel consumption to 160 kilograms, by 2030.

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