Indian steel sector has entered a new phase of development
The Union Minister of State for Steel and Mines, Shri VishnudeoSai has said that India Steel Conference and Exhibition has been making new strides in contributing to the growth of the Indian steel sector. He recalled that while a round-table meeting of steel CEOs was held in 2017, India Steel 2019 comprises not only reverse-buyer-seller meetings, but also deliberations on use of steel in manufacturing, defence and other sectors, aimed at improving steel consumption in the country. He said that summits such as India Steel have contributed to the global recognition of the Indian steel sector.
He said that steel is the foundation of the industrial economy. He said that the steel sector is vital to India’s growth, given that India is the fastest growing large economy and given the contribution of steel to manufacturing, infrastructure, power, aerospace and industrial machinery sectors. He said that Indian steel sector has entered a new phase of development; he added that the demand for steel will continue to grow.
The Minister said that India is well-poised to become the second largest producer of crude steel in the world.