Steel Sector Urged to Focus on Modern Technologies and Innovation

The capacity for steel consumption in India has transformed it from being a net importer of steel to a net exporter.

SEATTLE (Scrap Monster): Jyotiraditya M. Scindia, Union Steel Minister said that the country’s steel industry should focus on latest technologies and innovation, so as to achieve the previously announced target of 300 million tons of annual steel production by 2030. The industry has made significant strides in production, he noted.

Addressing ‘Indian Minerals & Metals Industry: Transition Towards 2030 & Vision 2047’ conference organized by NMDC and FICCI, the Minister urged the mines and mineral industry to reduce carbon emissions by 30-40% by 2030, which in turn will help the country achieve its decarbonisation goals.

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The capacity for steel consumption in India has transformed it from being a net importer of steel to a net exporter. The strong consumption growth has led to augmented domestic production of steel. The unprecedented reforms in the steel and mineral industries over the recent years have attracted significant investment, mainly in infrastructure expansion projects, he added.

The inaugural address was made by Prahlad Joshi, Union Minister of Mines, Coal and Parliamentary Affairs. The two-day conference is being attended among others by leading industrialists, policy makers and leading associations from steel, minerals and mining industries.

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