Steel Minister Narendra Singh Tomar has said that domestic companies have to accept the "external realities" facing the sector and "learn to compete" in the long term.
His comments have come in the backdrop of steel firms such as JSW Steel, Tata Steel, JSPL and state-run SAIL urging the government to adopt measures to check import of cheap metal in the country, which is impacting their sales and profits.
The Minister, who also holds the portfolio of mines, appreciated the concerted efforts by the government and all stakeholders, which has helped the steel sector in gradually coming out of the difficult condition it was in, Tomar was quoted as saying in a ministry's statement.
"But in the long term, industry has to accept external realities and learn to compete and emerge stronger inspite of them. Time is of essence and all plans and actions by the companies must be well-planned and executed," he advised the companies.
A meeting of the Parliamentary Consultative Committee of the Steel and Mines Ministry was held yesterday on the subject of review of SAIL and RINL, the Ministry said.
Presided over by Tomar, the meeting reviewed the progress achieved in the field by the public sector enterprises, it added.
Tomar said that government is aware of the logistics constraints and is continuously working to find out ways to augment the infrastructure, be it railways or waterways.
The Centre has started the Prime Minister Khanij Kshetra Kalyan Yojana (PMKKKY) for benefit of people and areas affected by mining and all stakeholders in the respective districts need to take keen interest in effective implementation of scheme, he added.
