Steel Minister Jyotiraditya Scindia said that India has increased installed capacity of production of steel by 50% to 155 million tonnes in Financial Year 2022 from around 100 million tonnes in financial year 2014. During this period of eight years, per capita consumption of steel also has gone by almost 50% to 77 kg per capita today.
Scindia was at the International conference on Circular Economy and Resource Efficiency, organized by the Indian Institute of Metals Delhi Chapter in New Delhi on Friday (26th August).
Scindia said India's mining & metal sector is set for robust development in view of expected jump in demand to support the emerging boom in growth in the automotive, infrastructure, transport, space and defence.
Revolutionary changes have brought in the mineral and metal sectors and today India is now 2nd largest steel producer in the world, Scindia added.
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