THIRUVANANTHAPURAM: Union Minister for Steel Dharmendra Pradhan on Thursday urged the stakeholders in the steel sector to embrace challenge of producing high grade steel for greater self-sufficiency. He also exhorted them to work towards greater sustainability in the sector and contribute towards creation of an Indian model of green economy.
He was speaking after participating in the 57th National Metallurgist’s Day Function and 73rd Annual Technical Meeting of the Indian Institute of Metals at Thiruvananthapuram. Speaking about the importance of steel, he said, “Metals, including steel continue to play a vital role in building of a modern economy.
There is a strong positive correlation between steel usage and a nation’s economic growth. Under the leadership of Prime Minister Narendra Modi, India is on a steady path to become a $5 Trillion economy. This dream resolve is a collective one. We all have to work together with an IspatiIrada (steely determination) to make this dream, a reality,” he said.
While talking about future readiness, Pradhan said, “We are in midst of Industrial Revolution 4.0 driven by digitisation, automation, big data, AI and Internet of Things etc. It will fundamentally alter the way we live and work. Steel sector too must be future ready to embrace the change and leverage innovation for achieving this quantum leap.”
He also said the decision to cut corporate tax and opt out of RCEP in its present form have been received well by stakeholders of the economy. Speaking about making of a New India, he said, “Steel sector will have a key role to play in making of a New India envisioned by Modi.
The next trajectory of growth, fuelled by Government’s key focus on building infrastructure for future, creating smart cities, industrial corridors and so forth will further boost steel consumption.” He further said backed by entrepreneurial spirit of the industry and the policy measures taken by the government, Indian steel industry is becoming more competitive and environment friendly.