“Growth trend in steel consumption in India will continue, due to strong manufacturing sector, diversified demand demographics, accelerated expenditure on infrastructure, anticipated increase in GDP and strong focus on Make in India”, said Chaudhary Birender Singh while addressing at the India Steel 2019 Exhibition and Conference in Mumbai n Tuesday.
India Steel 2019 Exhibition and Conference began in Mumbai today. The three-day event organised by Ministry of Steel will help chart out the future growth path of the steel industry.
“After policy reforms and consolidation, let us make 2019 the Year of Expansion. Expansion in terms of reaching out to new regions and areas of the country, to new markets and user industries and to other countries for exporting our steel. Let us accelerate our pace to work towards achieving the target of 300 million tonnes by 2030-31”, he added further energizing the attendees roundly.
“The conference organized at India Steel Expo would serve the underlying purpose of ushering the next era of growth for Indian steel industry as it focuses upon the entire value chain, from raw materials to production technology to end-user demand and delivery”, he added.
An official release said, the event will provides an opportunity for all the stakeholders to deliberate and identify ways to contribute towards building a robust roadmap for the further growth of the steel sector.
The event will witness the participation of the companies across the industrial spectrum ranging from MSMEs to the biggest names in the Indian and international steel sector. The event provides an opportunity for all the stakeholders to deliberate and identify ways to contribute towards building a robust roadmap for the further growth of the steel sector.
The presence of international technology providers is an added attraction for the Indian companies to interact with them for technology up gradation or technology transfer. The products, technologies and the best practices of steel production around the globe will be on display at the exhibition.
Over 250 exhibiting companies from 15 countries, over 200 International hosted buyers and large number of delegates are expected to hold business meetings during this event. More than 10,000 business visitors both from India and abroad are expected to visit.
Ministry of Steel organises the India Steel Exhibition and Conference once in two years. Over the years, the event has become the most preferred platform for buyers, sellers, technology providers, manufacturers, traders, importers, investors and other allied organizations and institutions from steel sector to interact and develop business. India has become the second largest producer of crude steel during 2018. The country is also the largest producer of sponge iron in the world and the 3rd largest steel consumer in the world after China and USA.
The National Steel Policy 2017 announced by Ministry of Steel envisages production of 300 million tonnes by 2030-31. The Government has also announced a policy for providing preference to domestically manufactured iron and steel products in government procurement. The India Steel-2019 is part of series of initiatives to develop a globally competitive steel industry in line with NSP-2107.