Steelmakers need to collaborate with IISc, IITs to boost industry: Minister

Union Steel Minister H D Kumaraswamy has said that steelmakers need to collaborate with leading institutions like Indian Institute of Science (IISc) and IITs for research to create a globally-competitive and technologically-advanced steel industry.

He said India's steel sector stands as the backbone of its industrial strength and a cornerstone of nation-building. "From skyscrapers to highways, railways to defence, steel powers our progress and fuels our ambitions."  Speaking on the occasion of the National Metallurgists Awards ceremony here on Wednesday, he said: "To create a globally-competitive and technologically-advanced steel industry, our steelmakers need to collaborate with leading institutions like IISc and IITs (Indian Institutes of Technology) for research."  Specialty steel, Kumaraswamy said, is also a crucial sector where research and innovation is the need of the hour.

The Minister said that under the leadership Prime Minister Narendra Modi, the country is on a path towards becoming a USD five trillion economy, and steel will remain at the heart of this transformation, showcasing India's resilience and reinforcing its leadership on the global stage.

"Yet, challenges persist volatile markets, sustainability imperatives and the need for innovation," he noted.

Kumaraswamy assured that the Government remains steadfast in its support for the steel industry, evident through forward-looking initiatives like the National Steel Policy 2017, and the Production-Linked Incentive (PLI) Scheme for Specialty Steel, promoting circular economy and scrap recycling.

According to him, India's unwavering commitment to achieving net-zero emissions by 2070 places the steel industry at the forefront of this transformation.

"By adopting hydrogen-based steelmaking and renewable energy, the sector is setting a global benchmark for sustainable production and aligning with our national mission to combat climate change," he said.