India targeting a 300 million tonnes a year steel production capacity by 2030-31

Bhubaneswar:16/6/17; With India targeting a 300 million tonnes a year steel production capacity by 2030-31, Union Steel Minister Chaudhary Birender Singh on Friday said the focus would be on domestic consumption and making the sector globally competitive.

Singh said his ministry has identified construction and manufacturing sectors like rural development, urban infrastructure, roads and highways, and railways for maximum consumption of steel.

“The government has made a budgetary allocation of Rs 4 lakh crore for infrastructure this year. We have to ensure that the maximum steel produced in the country is used domestically,” said the Minister, who chaired a second meeting of the National Steel Consumers’ Council here.

In order to increase domestic consumption, he said exhibitions would be organised across the country in August where public sector undertakings and other stakeholders would be asked to showcase their products.

The Minister said the new Steel Policy seeks to increase per capita steel consumption to 160 kg by 2030 from the existing around 64 kg.