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Regular-article-logo Saturday, 21 September 2024

Push for domestic steel

In the last few quarters, demand has declined because of economic slowdown followed by the Covid-19 outbreak and lockdown

PTI Mumbai Published 21.06.20, 02:38 AM
Dharmendra Pradhan in New Delhi

Dharmendra Pradhan in New Delhi PTI

Union steel minister Dharmendra Pradhan on Saturday urged all stakeholders of the sector to come together to ensure that industries use only domestically produced steel.

In the last few quarters, domestic demand for steel has declined because of the economic slowdown followed by the Covid-19 outbreak and resultant shutdowns.

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“Unless all the stakeholders, including the mining industry, the processing industry, the furnace associations, the secondary steel sector or the integrated steel plants, come together, it will be difficult to take steel to another level,” Pradhan said.

He was addressing a virtual summit organised by Hyve India along with other steel industry associations.

The minister further said there are many sectors which still do not use domestically produced steel because of various reasons.

“The demand for steel in the domestic market is very low, and we will take up all the programmes that will boost the sector.

“During the last six years, a majority of the reforms have been undertaken by the government to make the raw materials available for the sector. We all should work towards fulfilling our needs with steel completely made in India,” Pradhan said.

Pradhan said the initiative to open up coal blocks for commercial mining was with an aim to achieve self-sufficiency in meeting energy needs and boost the industrial sector.

Demand for goods such as steel and coal has plunged in the last two-three months, he said, adding it has impacted all the stakeholders.

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