New Delhi, 20 April (IANS). India will achieve 300 million tonnes of steel production capacity by 2030 and at the same time, per capita steel consumption will increase to 160 kg during this period. This information was given by the government.
The country produced 110.99 million tonnes of raw steel during the period from April to December of FY 25. At the same time, finished steel production was 106.86 million tonnes.
According to the information given by the government, in the second round of the production-linked incentive (PLI) scheme 1.1 brought for specialty steel, companies have committed to invest around Rs 17,000 crore. This is expected to increase India’s competition capacity in specialty steel production.
To increase the growth of the country’s steel sector, ‘India Steel 2025’ event is going to be held in Mumbai next week. In this, companies will get an opportunity to inter-state and international partnership with the Knowledge Exchange.
Prime Minister Narendra Modi will address this global steel industry event on 24 April through video conferencing.
The event will feature Global Industry Leaders and Senior Foreign delegation, which will include Russian Deputy Industry and Trade Minister, Australia, Mozambique and Mongolia ambassadors.
This event will be one of the global steel events globally with 12,000 business visitors, 250 exhibits, 1,200 conference delegates, including various areas, government departments, state governments, delegations of the country and domestic and international buyers from India and abroad.
The ministry said that country-specific sessions will include major steel producing countries including South Korea, Sweden, Australia and Mongolia. These discussions will discuss Joint Research, Technology Transfer and Strengthening of Supply Chain to free India’s steel production and promote global competition.
-IANS
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