Govt committed to strengthening competitiveness of steel sector, unlocking new growth opportunities: Piyush Goyal
New Delhi, July 7
Union Minister of Commerce and Industry Piyush Goyal on Tuesday said the government remains committed to strengthening the competitiveness of India's steel sector and unlocking new growth opportunities through close collaboration with industry stakeholders.
In a post on social media, Goyal said he held a stakeholder consultation meeting along with Union Minister for Heavy Industries and Steel H.D. Kumaraswamy with representatives from the steel, stainless steel and metcoke industries.
The Commerce and Industry Minister described the meeting as "highly productive" and said discussions focused on measures to enhance the competitiveness of the sector and create new avenues for growth.
"Held a highly productive stakeholder consultation meeting today alongside the Minister of Heavy Industries & Steel, @HD_Kumaraswamyavaru. Engaged in a constructive discussion with key leaders from the steel, stainless steel & metcoke industries on strengthening the sector's competitiveness & unlocking new growth opportunities," Goyal said.
He reiterated that the Modi Government remains fully committed to working closely with industry and supporting its aspirations.
"The Modi Government remains fully committed to fostering close collaboration with industry, supporting its aspirations and driving robust growth across these critical sectors to build a stronger, more self-reliant India," he added.
The meeting comes at a time when India's steel sector has reported broad-based growth during the first quarter of FY2026-27.
According to provisional data released by the Ministry of Steel on Monday, finished steel consumption increased 8.3 per cent year-on-year to 41.6 million tonnes during the April-June 2026 period.
Finished steel production also recorded growth during the quarter, rising 5.9 per cent year-on-year to 41.0 million tonnes. The faster growth in consumption compared with production reflected continued strength in domestic demand.
The ministry's data also showed that India remained a net importer of finished steel during the period.
On a monthly basis, finished steel consumption increased 7.2 per cent year-on-year to 14.2 million tonnes in June, while finished steel production rose 6 per cent to 13.8 million tonnes.
The stakeholder consultation with industry representatives was held against the backdrop of rising domestic steel demand, with the government reiterating its focus on working with industry to enhance competitiveness, promote growth and strengthen India's steel ecosystem as part of its broader vision of building a self-reliant economy.
— ANI
Reader Comments
8.3% growth in consumption is impressive! Domestic demand is clearly strong. But being a net importer is concerning - we need to boost production capacity and reduce dependency on imports. Make in India should mean make steel in India.
The government's vision for a self-reliant India is good, but I hope they also consider environmental sustainability. Steel production is carbon-intensive. We need clean tech support alongside growth targets. 😊
Piyush Goyal ji and HD Kumaraswamy ji together in one meeting - that's a strong signal. Karnataka and India both benefit from this collaboration. Hope metcoke industry issues like raw material availability get addressed. Jai Hind! 🇮🇳
Positive steps, but I'm skeptical. The steel sector has been facing dumping from China and other countries. Words are cheap - we need anti-dumping duties and quality control orders enforced strictly. Otherwise, domestic producers will suffer.
Finally some good news for the steel industry! My father worked in a steel plant for 30 years. These meetings matter for lakhs of families like ours. Hope they also look at worker safety and wages alongside competitiveness.
A Aman W "Self-reli We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.