Key Points

The focus of the meeting was to discuss on key areas such as advanced technology adoption, reducing logistics costs, boosting iron ore production, and enhancing MSME competitiveness to strengthen India's position in global value chains.

"Held a productive dialogue with major steel producers in Mumbai. Focused on ideas like advanced tech adoption, reducing logistics costs, increasing iron ore production, and expanding India's role in global value chains by making our MSMEs more competitive. Looking forward to a collaborative roadmap ahead to forge a resilient & future-ready steel industry," Goyal said in the X post.

Steel is a de-regulated sector and the government acts as a facilitator by creating a conducive policy environment for the development of the steel sector. The government has taken the several measures to improve raw material security, enhance R&D activities, reduce import dependence, and cost of production to support India's goal of becoming Aatmanirbhar in steel production and help MSMEs, small steel producers.

He also engaged with leaders from the engineering goods sector, calling them "champions of precision, performance & progress." Goyal emphasized the government's commitment to building a resilient steel industry and transforming India into a global engineering hub under the Aatmanirbhar Bharat and Make in India initiatives.

"Engaged with leaders of the Engineering Goods Sector who are our nation's champions of precision, performance & progress. Together, we are building an ecosystem that strengthens Aatmanirbhar Bharat and fuels Make in India for the World. Government is committed to turbocharging India's march to become a global engineering hub!," he added in a seperate post. These meetings are possibly part of the government's effort to protect the stakeholders in the steel and other allied sectors amid the uncertain environment after the imposition of tariff by the US President Donald Trump.

- ANI