PM Modi said - Make India strong like steel, increase production; adopt innovation

Prime Minister Narendra Modi told the steel industry's representatives to work together to build a strong, rapidly advancing, beneficial changes and a strong India, like steel. Along with preparing the industry for the future, we should focus on adopting new technology, innovating, exchanging best practices, and reducing coal imports.

Addressing the India Steel 2025 program online on Thursday, the PM said, Steel is the backbone of development, along with being an emerging sector. To achieve the target of 300 million tonnes by 2030, we need to increase steel production. In 2023-24, the country's steel production capacity was 17.9 crore. The Prime Minister also said in his address that efforts should be made to extract iron ore from unused new mines to increase steel production. These mines must be used properly and timely. If this does not happen, both the country and the industry will suffer.

The PM said that the country is also pushing forward the $1,300 billion National Infrastructure Pipeline. Smart cities are being built on a large scale. The pace of development in roads, railways, airports, ports, and pipelines is creating new opportunities for the steel sector. The increasing number of big projects will increase the steel demand.

Prime Minister Narendra Modi said that India is not only thinking about domestic growth but also about global leadership in this sector. The world sees India as a reliable supplier of high-quality steel. The government, which is increasing infrastructure in the country, is emphasizing the use of locally manufactured steel in its contracts.

Modi said that the steel sector is also important for the economy, as it has the potential to employ the youth. We need to move rapidly towards energy efficiency, low emissions, and digitally advanced technologies. The use of AI, automation will define the future of the industry.

PM said, securing raw materials and their security is a major concern for the steel sector. We are still dependent on imports for nickel, coking coal, and manganese. To reduce this dependence, we should focus on strengthening global partnerships, securing the supply system, and upgrading technology.

The PM said the country has the ambition to build modern and large ships, keeping an eye on the export market. Such works will require high-grade steel. He said, in the case of steel, the target should be to bring imports to zero level and increase net exports. The country should also look for options like coal gasification and better use of its reserves to reduce coal imports. The country aims to increase steel exports from 25 million tonnes to 500 million tonnes by 2047. The target is to increase per capita steel consumption from 98 kg to 160 kg by 2030.