“Indian steel industry will soon become more competitive and shall set new benchmark to compete in the global market” – Union Steel Minister

Union Steel Minister, Chaudhary Birender Singh, while addressing the second Regional Conference on “Make in India-Make in Steel” in Ludhiana Punjab said that the northern part of India accounts for 40% of steel consumption, and the domestic steel industry has immense potential, and will grow manifold in the forthcoming years.

The domestic steel industry is passing through a crucial phase and to continue with the growth, the industry needs constant diversification and innovation, added Chaudhary.

The Indian steel industry should continue to fight with several adverse conditions to reach sustainability.

While outlining the unique characteristics of the Indian steel industry the Minister stressed on crucial elements such as cycle cost, recyclability, reusability, strength and durability that he believes will probably define the ambit of the sector in the coming few years.

FCI has plans to construct 100 lakh tonne steel silos by 2020 in the northern states of India and this region will play a major role in the future.

The Steel Minister reaffirmed further that the demography of the steel industry has changed in the last few years, and a greater number of plants are incorporating modern technology to enhance the production quality.
Source – India Infoline