BENGALURU: From skyscrapers to highways, railways to defence, steel powers our progress and fuels our ambitions. Steel remains central to this transformation, Union Minister for Steel and Industries HD Kumaraswamy said at the National Metallurgist Awards ceremony on Thursday.
Emphasizing the pivotal role of the steel industry in nation-building, the Union minister said, “India is striving to become a USD 5-trillion economy under the leadership of Prime Minister Narendra Modi. Steel remains central to this transformation, showcasing the country’s resilience on the global stage.” Lauding the sector’s achievements, the minister acknowledged challenges such as market volatility, sustainability and the need for innovation.
He reaffirmed the government’s commitment to supporting the steel industry with forward-looking policies, including the National Steel Policy 2017 and Production-Linked Incentive (PLI) Scheme for Specialty Steel. “The need for a circular economy and scrap recycling is more urgent than ever,” the minister remarked.
He also called for greater collaboration between steel makers and top research institutions such as IISc and IITs to foster innovation, especially in specialty steel, a sector crucial for future growth.
The minister emphasized India’s goal of achieving net-zero emissions by 2070, placing the steel industry at the forefront of this transformation. He underscored the importance of adopting hydrogen-based steelmaking and renewable energy for sustainable production.