India: Government expecting rise in domestic production of steel

14-Jan-2019

The Government expects the domestic production of value added steel would rise in view of modernisation and expansion of integrated steel producers, level playing field now available to large MSMEs sector in India and likely investment by foreign steel producers.

Steel Secretary Binoy Kumar said with the level playing field being made available to the MSMEs, both users and producers will have an expanded value chain for their manufacturing activities.

He said collaboration between users and producers is the bedrock of development of domestic capability of value added steel.

He was speaking after chairing a meeting of steel users and steel producers especially from automotive sector on Monday.

An official statement said on Wednesday that the Secretary emphasized on the need for setting up a forum with representatives from producers and end users so that future requirements of new product development and domestic potential are addressed and problems in existing products are resolved.

Source: UNI