Minister of steel and Rural Development Shri Faggan Singh Kulaste said iron is one of the most important products in the modern world and is very important to any developed nation. He was speaking at a conference organized by ASSOCHAM’s Indian Metal Industry: Current Outlook and Future Trends here today. The Minister added that the use of iron in India continues to grow due to its many benefits in almost all sectors of health. Shri Kulaste also noted that in India, the use of steel in the infrastructure and construction sectors has the largest share of over 65% and the remainder is calculated by sectors such as engineering, packaging and automobiles which show an impressive increase in metallurgy over the next year. year.
Minister spoke on the historical continuation
He said due to strong links with other sectors such as construction, oil and gas, automotive, machinery, demand for steel was growing steadily and development in these sectors. In his address, the Minister spoke on the historical continuation of the steel industry which includes the contribution of copper, aluminum and zinc in addition to Iron and Iron over the centuries. Elaborating on the improved use of Steel in India, Shri Kulaste said the consumption of Steel per person in India has increased by 10 per cent to 77 kg in the 2021-22 financial year. India has exported a record 13.5 million tons of finished steel by 2021-22 with a record production of 120 million tons of crude steel and 113.6 million tons of finished steel in temporary measurements.
The Minister informed and ensured that the Central Government continues to work with the various provincial governments to facilitate the implementation of various projects for the benefit of the country. Our government’s goal is to place more emphasis on infrastructure development across the country through confident India, he added.
PM launched n numbers of projects
Shri Kulaste said our government under the leadership of the Honorable Prime Minister Shri Narendra Modi has launched a number of projects such as the National Infrastructure Pipeline (NIP), Sagarmala Project, Dedicated Freight Corridor, PM Gati Shakti Master Plan etc. 13-14% compared to 7-8% of GDP in developed countries. The completion of these projects will save shipping time, as well as reduce transportation costs, thereby reducing the cost of Industrial Property and making quality products available to customers at reasonable prices.
Shri Kulaste has warned the Steel Industry about challenges from other flexible and cheap materials such as composites that will increase over time. It is therefore important to reduce costs by introducing technology and efficiency. The Minister highlighted that India has a competitive advantage over its counterparts in steel production due to domestic availability of high quality steel, strong domestic demand and the availability of new workers. He said due to the high mineral content in the country, the steel industry could play a major role in India’s ambitious plans for India’s confidence and the US $ 5 trillion economy by 2024-25.
Agenda to improve access to the common people at affordable cost
The Minister emphasized that industry and other stakeholders will need to identify all those areas and factors that contribute to the increase in the use of these tools in order to improve access to the common people at affordable cost. Shri Faggan Singh Kulaste cited in addition to the many strategic and appropriate interventions and reforms of the Indian government over the past few years. It is important to strengthen domestic power through technological development and innovation.
This will not only empower the Indian steel and steel industry to become a real world power, but will also help to make India a center for the production of metals and metal products. He said it was important to balance the need for mineral development in the country especially minerals such as Iron, Coal, Bauxite, Lime, Copper, Manganese, Chromium etc. which are the pillars of economic development. Shri Faggan Singh Kulaste urged various industrial organizations to travel to rural India and inform people of government programs through small meetings or conferences. They can run a skills development program there and can play an important role in nation building.
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