AHMEDABAD: Prime Minister Narendra Modi on Friday said the Indian steel industry ranks second in the world and the government aims to double the production of crude steel in the country in the next decade.
In a virtual address at the Bhoomi Pujan of Nippon Steel’s Hazira Plant Expansion Project in Gujarat’s Surat, the PM praised the Indian steel manufacturers. “As we’re proceeding towards the target of a developed nation, the steel industry will play a vital role in strengthening the country’s infrastructure. The Indian steel industry now ranks second in the world,” he said.
The government had set a target of increasing crude steel production capacity from 154 million tonnes to 300 million tonnes. “It is our goal to double the production of crude steel in India. The government has set a target to achieve 300 million tonnes of crude steel production in the next few years. The government is promoting circular means of production through Public Private Partnership (PPP) model,” said the PM. Talking about India’s progress in defence manufacturing, the PM said scientists have developed special steel to be used in the construction of aircraft carrier INS Vikrant.
“Earlier, we depended on high-grade steel imports for developing defence equipment. Today, the steel industry is moving towards Aatmanirbharta (self-reliance). INS Vikrant is an example of this shift towards Make in India” the PM said.
The Prime Minister said that through the steel plant, not only investment was taking place but doors of many new possibilities were also opening. “An investment of more than `60,000 crore will create many employment opportunities for the Gujarat youth and the country. After this expansion, the crude steel production capacity at Hazira Steel Plant will increase from 9 million tonnes to 15 million tonnes,” Modi said.
Referring to the world’s expectations from India, the Prime Minister said India was rapidly moving towards becoming the world’s largest manufacturing hub and the government is actively engaged in creating the necessary policy environment for the development of this sector.
Pointing out the challenges, the Prime Minister gave the example of carbon emissions for the steel industry. He explained that on the one hand, India was expanding its capacity to produce crude steel, and on the other, it is also promoting the use of environment-friendly technologies.
“Today, India is emphasising developing such production technologies which reduce carbon emissions and capture and reuse carbon,” said the PM. He emphasised that the government was committed to
taking the steel industry to new heights. According to company officials, ArcelorMittal Nippon Steel India (AM/NS India) – a joint venture between ArcelorMittal and Nippon Steel, two of the world’s leading steelmakers - will expand crude steel capacity at its Hazira plant from 9 million tonnes per annum (MTPA) to 15 MTPA.
The present annual crude steel capacity of the country is 144 MTPA. The leading players include Steel Authority of India Ltd. (SAIL) at 20.63 MTPA and Tata Steel with an annual crude steel production capacity of 34 MTPA.
‘India to become manufacturing hub’
Referring to the world’s expectations from India, the PM said India is rapidly moving towards becoming the world’s largest manufacturing hub and the government is actively engaged in creating the necessary policy environment for the development of this sector.