Steel Ministry said that India is hopeful of occupying the second slot in global steel output after China while the government has also taken steps to encourage secondary steel producers to boost performance. It said “Growing in conjunction with the primary steel sector, the secondary steel sector holds enormous potential for growth and opportunities in the country. Strong performance of the secondary steel sector has added muscle to India’s steel production. Encouraged by the overall potential, the Government of India has taken various initiatives to improve the performance of this sector. Based on the present growth pattern of steel, it is expected that India will rise to the second position after China.”
The National Steel Policy 2017 has set a target of 300 million tonnes per annum (MTPA) of production capacity by 2030. The production capacity in 2017-18 has already reached 137.97 million tonnes.
Source : PRESS TRUST OF INDIA
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