Confederation of Indian Industry organized a two-day long Steel Mart recently. Union Minister for steel, Narendra Singh Tomar, was present at the event. He addressed industrialists and government officials and also talked about the government’s commitment and workings in order to achieve the target of 30 crore tonne production per annum by 2025. Bhushan Steel Ltd, a premiere leader of the steel industry believes that the government would devise a mechanism to achieve the target mentioned by the union minister. Neeraj Singhal, Managing Director and Vice- Chairman, Bhushan Steel lauds the Steel Research and Technology Mission of India started by the government. This has also lent a fillip to the steel industry’s need to focus more on conducting extensive research.
The Union Minister has insisted that the steel industry needs a boost and this could be provided by cutting down the cost of manufacturers. Bhushan Steel Ltd. holds the same and believes that by bringing down the interest rates, debts and transportation costs, the industry can revive. A good rail connectivity with raw material sites can be of great help as it will substantially lower the cost of transportation and the time taken in transportation.
As steel industry is the backbone of all other industries, it becomes really important to promote and spread awareness about the proper usage of steel. Tomar insisted that there is a need to boost the demand of steel, particularly in rural areas.
The government is planning to meet the small and large scale steel industrialists in August and Bhushan Steel Ltd is really expectant from the meeting to devise some significant steps. Tomar said that the meeting will be aimed at drawing a road map by finding out common solutions. As secondary steel producers are passing through a tough time, this meeting has set them awaited.
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