New Delhi: Union Steel Minister Dharmendra Pradhan urged Japanese investors to come forward to invest in the country’s steel market. The Steel Minister said on Monday that the steel market here is growing rapidly and steel consumption will more than double in the coming years. Dharmesh Pradhan was speaking here at a workshop on ‘Promoting steel use for the growth of economy and preparing producers for it’.
The workshop was organized by Ministry of Steel, Confederation of Indian Industry and Ministry of Economic, Trade and Industry of Japan. Pradhan also assured to provide mandatory support to investors in the event of establishing a business.
He said, “We have gathered here to discuss topics like increasing steel use in India, markets in India and economic growth.” Our goal is to make India a five thousand dollar economy by 2024-25. India will spend Rs 100 lakh crore in the coming years on the development of infrastructure. All these will result in an increase in steel consumption. “
Pradhan said that the Indian steel sector is a fast growing steel market. The country will have 300 steelmaking plants by 2030. We are also aiming to increase per capita steel consumption in the country from the current 70 kg to 160 kg. He said that by 2022 the Prime Minister’s Housing Scheme will be completed. Under this scheme a large amount of steel will be required in the construction of houses.
Pradhan said, “India also aims to set up 14,000 km of new gas pipeline in the next three years. Our goal is to deliver water from tap to every house. In this way there are many areas where steel is to be used. “He said that railways, highways, roads and bridges are other areas where the government is paying attention and all these will require a lot of steel.
