VIJAYAWADA: Union Minister of State for Steel and Heavy Industries, Bhupathi Raju Srinivasa Varma, on Monday said the steel industry is vital for achieving the vision of Atmanirbhar Bharat, with the government setting a target to reach 300 million tonnes of steel production capacity by 2030.
Addressing the 6th ISA Steel Conclave, organised by the Indian Steel Association (ISA) in New Delhi, Srinivasa Varma said that the steel sector contributes about 2% to India’s GDP and plays a crucial role in economic growth, self-sufficiency, and infrastructure development.
He noted that steel demand in India has recorded double-digit growth over the past three years, crediting the visionary leadership of Prime Minister Narendra Modi.
The Minister said the government is focusing on implementing decarbonisation and the Green Steel Mission, improving technology adoption for sustainability, increasing competitiveness, and ensuring raw material security.
He lauded ISA for playing a valuable role in addressing challenges in the sector and offering policy suggestions.
National initiatives like the National Infrastructure Pipeline, Make in India, and Atmanirbhar Bharat have substantially boosted steel demand and domestic consumption.
Srinivasa Varma also announced that all approvals have been granted for ArcelorMittal Nippon Steel’s (AMNS) upcoming large steel plant in Nakkapalli, and the foundation stone will be laid soon.
The Union Minister said the plant would further strengthen India’s steel capacity.
The two-day conclave is expected to deliver key recommendations for the sector’s future growth.