Enhance domestic steel usage, reduce import dependency: Dharmendra Pradhan

Addressing the Webinar on 'Atmanirbhar Bharat Fostering Domestic Steel Usage in Oil and Gas Sector' here, he said that steel, oil and gas sectors have close linkage, and it is time to take it to a new pedestal.

"Indian steel sector has got a fundamental role to play in realizing India's dream of becoming Atmanirbhar Bharat (Self-reliant India). He said that the Indian steel sector can strive to be a major player at the global stage, only after it fulfills all the domestic requirements," an official release quoted Pradhan as saying.

"Domestic players should rise to the occasion so that cost does not escalate in our efforts to promote localization of supply chain. Meeting steel demand domestically and reducing import dependence will significantly enhance employment opportunities in the sector and would also give a boost to the growth of MSMEs in the steel sector and lead them to produce more value-added products," he added.

Pradhan said that oil and gas sector is undergoing tremendous growth, be it in refineries, pipelines, gas terminals, storage capacity, gas cylinders, retail outlets, and all these require a large amount of steel.

"Oil and gas sector is one of the largest end-users of steel pipes and tubes, with the pipeline being the major mode of transport for petroleum, oil and lubricant products. Expansion of city gas distribution network to cover 70 per cent of our population, refining capacity augmentation, plan to set up 10,000 CNG stations, will drive steel demand in the sector," he said.

The webinar was attended by the Secretary, MoPNG Tarun Kapoor, Secretary, Steel, Pradip Kumar Tripathi, CMDs of several PSUs, Senior Officers of the Ministries of Steel and PNG, Industry leaders, Office-bearers of FICCI, and other stakeholders including consumers as well as producers.