Steel demand in India to continue to grow in double digits in coming years : Srinivasa Varma
The Minister of State for Steel, Bhupathiraju Srinivasa Varma has said that steel demand in India will continue to grow in double digits in the coming years, driven by government-led infrastructure projects. He said government-led initiatives have pushed infrastructure projects across the country, leading to higher consumption of the commodity.
The minister said over the last three years, the steel demand has been growing at a double-digit rate and will continue to rise as the country strives to achieve the target of 300 million tonnes of steel-making capacity by 2030. The steel industry contributes significantly to the GDP and plays a major role in achieving India's vision of Aatmanirbhar Bharat.
He said under the leadership of Prime Minister Narendra Modi, flagship programs such as National Infrastructure Pipeline, Make in India are significantly boosting the steel demand and driving domestic steel consumption. He said there are some key priorities for the steel industry like decarbonisation and advancing the green steel mission, technology adoption to ensure the sector's long-term resilience and competitiveness, ensuring raw materials security, among others.
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