The country's annual steel production crossed 100 million tonne-mark last year, Union Minister Chaudhary Birender Singh said today.
"Between January 1, 2017 and December 31, India crossed 100 MT-mark and produced 101 MT steel," Singh said at MRAI International Indian Metals Recycling conference here.
India's total steel production in the year 2016 was around 95 MT.
Now, it has to reach the 240 MT production and 300 MT capacity target by 2030-31 and the recycling industry can play a major role in meeting this goal, the minister said in his address to over 800 delegates who attended the event.
On 300 MT steel production capacity target, he said the countdown for "it has already begun. In fact, it began the day we had announced our target".
Emphasising that government is aware that a major part of demand of scrap, which is a raw material for the domestic recycling industry, is met through imports, he asked the delegates not to worry about it as his ministry is working in the direction of improving the availability.
A bill related to motor vehicles which, he said, will prevent all vehicles of 15 years or more from plying on roads is pending in Parliament and it may be passed in the next session.
"I am confident that the bill will be passed in the upcoming Budget session.
About 70-80 per cent demand for scrap can be met through the domestically generated scrap," the minister claimed.
Disclaimer: No Business Standard Journalist was involved in creation of this content
