India Steel 2025: PM Modi shares growth story in steel sector, contribution to economy

The Prime Minister termed the steel sector to be the basis of India's progress, and a strong foundation of a developed India.

At a time when India was aiming to achieve the goal of becoming a USD 5 trillion economy, PM Modi said the role of the steel sector was no less in achieving this goal.

"We are proud that today India has become the second largest steel producer in the world. We have set a target of producing 300 million tonnes by 2030 under the 'National Steel Policy'," he apprised the gathering.

"Today our steel industry is filled with new confidence about its future, because today the country has a base like the PM Gati Shakti National Master Plan. Through PM Gati Shakti, different utility services are being integrated into logistics modes. Mine areas and steel units of the country are being mapped for better multi-modal connectivity," he added.

He also informed the gathering that his government had decided to use Made in India steel for constructing government buildings.

These efforts, PM Modi said, highlight that government-related initiatives are among the largest contributors to steel consumption in building construction and infrastructure.

"Steel is a primary component in many other sectors as well. That is why our policies related to the steel industry are also making other industries globally competitive," PM Modi said.

Asserting that India has long been dependent on imports of high-grade steel, PM Modi said it was now necessary to change this situation for the defence and strategic sectors.

"Today we are proud that the steel used to build India's first indigenous aircraft carrier is made in India. The strength of Indian steel is linked to the success of our historic Chandrayaan mission," he supplemented, adding that India today has both the capability and confidence.

India Steel 2025 is an international exhibition cum conference on the steel industry is being organised from April 24-26 at Bombay Exhibition Centre, Mumbai. This is a joint event of the Ministry of Steel and the industry body FICCI.

India Steel 2025 would serve as a platform for all stakeholders to meet and transact business and interact with each other. The event will highlight the current trends, developments, challenges, future prospects and Vision 2047 through various sessions.

Policy makers and industrialists will interact with potential investors and buyers to explore business opportunities, promoting investments, industrial development and employment generation.