New Delhi, April 24 (H.S.): Prime Minister Narendra Modi addressed the India Steel 2025 programme, emphasizing the essential role of steel in modern economies. He highlighted India’s achievement as the second-largest steel producer globally and set a target of 300 million tonnes of steel production by 2030 under the National Steel Policy. Modi advocates for ‘Zero Import’ and ‘Net Export’ goals for infrastructure projects and stresses the need for the steel sector to adapt to new processes and innovations.
He acknowledged the mining reforms over the past decade that have eased access to iron ore and called for effective utilization of allotted mines while expediting green-field mining. The Prime Minister expressed pride in India’s rising per capita steel consumption, expected to grow from 98 to 160 kilograms by 2030, viewing this as a significant indicator of the country’s economic direction and infrastructure growth.
The PM-Gati Shakti National Master Plan, he said, will enhance connectivity between mining areas and steel units, supporting the sector’s future. He highlighted ongoing infrastructure projects, like the National Infrastructure Pipeline, that create opportunities for steel, including housing projects under the PM Awas Yojana and village developments through the Jal Jeevan Mission. Modi reiterated the government’s commitment to using indigenous steel in public works, reinforcing the steel industry’s significance in national development.
PM Modi emphasized the vital role of steel in driving growth across various sectors, including manufacturing, construction, machinery, and automotive. He noted that government initiatives, such as the National Manufacturing Mission introduced in this year’s Budget, aim to enhance global competitiveness through support for small, medium, and large industries, thereby benefitting the steel sector. Modi expressed pride in India’s domestic production of high-grade steel, particularly for significant projects like the indigenous aircraft carrier and the Chandrayaan mission, showcasing India’s capabilities. He emphasized the government’s commitment through the PLI scheme to boost high-grade steel production and highlighted the anticipated growing demand due to mega-projects.
Additionally, the classification of shipbuilding as infrastructure in the Budget signals India’s intent to manufacture and export modern vessels. Modi mentioned the need for zero imports, targeting 25 million tons in steel exports and 500 million tons in production capacity by 2047. He called for the steel industry to embrace new processes and technologies and urged collaboration to create job opportunities for youth.
Addressing challenges, he acknowledged raw material security issues, particularly reliance on imports for critical materials, and emphasized strengthening global partnerships, securing supply chains, and advancing low-emission technologies, advocating for innovation to overcome these hurdles effectively.
The Prime Minister addressed the substantial impact of coal imports, especially coking coal, on economic costs, emphasizing the need for alternatives to reduce dependency. He noted the potential of technologies like the Direct Reduced Iron (DRI) route and advocated for increased promotion of these methods. He mentioned that coal gasification can enhance the efficient use of domestic coal resources, urging steel industry stakeholders to engage actively and advance in this area.
Additionally, PM Modi highlighted the issue of underutilized greenfield mines, remarking on the significant mining reforms implemented over the past decade that have improved iron ore accessibility. He called for the effective use of designated mines, warning that delays in utilization could harm the industry and urging expedited efforts in greenfield mining.
The Prime Minister declared that India is transitioning from focusing solely on domestic growth to aiming for global leadership. He noted the international community now recognizes India as a reliable supplier of high-quality steel, emphasizing the necessity of adhering to world-class manufacturing standards and ongoing capability upgrades. He stated that enhancing logistics, creating multi-modal transport networks, and cost reductions are vital for India to become a Global Steel Hub. He reiterated that the India Steel platform can facilitate the development of capabilities and actionable strategies, concluding with a call for collective efforts towards building a robust and revolutionary steel industry in India.
Hindusthan Samachar / Jun Sarkar
