BHUBANESWAR: The City is set to host a conclave on ‘Capital Goods in Steel Sector: Manufacture in India’ on Tuesday.
Organised by the Ministry of Steel, the one-day event will have two panel discussions on ‘Synergising global experience and domestic capital goods capability for the steel sector’ and ‘Incentivising domestic capacity expansion’.
The conclave is aimed at promoting domestic capacity and capability building besides manufacturing of capital goods in the steel sector. At least 20 MoUs have been planned to be inked by Indian Capital Goods manufacturers, foreign technology providers, foreign capital goods manufacturers, consultants and steel manufacturers. With the signing of the MoUs, imported capital goods worth over five billion USD will be manufactured in the country as part of Make-in-India drive in steel sector in next 12 years.
Foreign manufacturers from Luxembourg, Spain, Italy, Germany, Netherlands, Finland, China and Japan are expected to participate in the event.As per World Steel Association (WSA)’s last eight month steel production figure, India has become the second largest steel producer in the world. Indian steel production has been growing at 6.7 per cent, achieving the highest growth among the major economies.
Union Steel Minister Chaudhary Birender Singh, Minister for Commerce, Industry and Civil Aviation Suresh Prabhakar Prabhu, Minister for Petroleum and Natural Gas Dharmendra Pradhan, Minister for Heavy Industry and Public Sector Enterprises Anant Gangaram Geethe and Minister of State for Steel Vishnu Deo Sai are slated to attend the conclave.