Use of India-made steel by the industry would help in sustainable growth of the sector, Union Steel Minister Chaudhary Birender Singh said today while asserting that the government is taking steps to make the country the world's second largest producer.
"Use of 'Swadeshi' steel is the way forward not only for steel consumption but also for sustainable growth of the steel industry and economy," the minister said during the meeting of of National Steel Consumers' Council of the Steel Ministry here.
Singh said that there is great potential for increasing steel consumption in the country.
"Government of India's emphasis through Make in India and support to Swadeshi production offers huge opportunity to raise the domestic steel consumption," the minister said.
He said that India's current per capita steel consumption stands only at 60 kg, which is very less as compared to the world average of 208 kg.
Singh also said the Steel Ministry has started a campaign to boost steel consumption in country through encouraging all concerned ministries to use only India-made steel for infrastructure and construction projects of the government.
In 2016, India emerged as the third largest steel producer in the world and the central government is taking all steps to make the country world's second largest steel producer, he said further.
Representatives of MSME producers, integrated steel plants of private and public sector, machinery manufacturers and consumers of infrastructure, transport housing equipment sectors were present in the meeting.
Singh stated that the support extended to the steel industry by way of various trade remedial measures in recent times have led to a significant reduction in imports and stabilisation of domestic market.
Globally, trade protection by various governments is on the rise. Indian steel industry has to acquire the competitive edge by benchmarking with the best in the world, in order to be a global leader, the minister said in the meeting.
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