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Pradhan urges Steel industry to revamp strategy amidst rising energy needs

By TIOL News Service

NEW DELHI, SEPT 19, 2019: THE Minister of Petroleum and Natural Gas & Steel, Mr Dharmendra Pradhan, has assured the steel industry that the Government would be its friend and facilitator, and is committed to creating a conducive atmosphere for the industry. Inaugurating the 3rd International Galvanizing Conference held here today, he stated that growth in Indian energy needs would also fuel the growth in Steel consumption. PM Awas Yojana, Har Ghar Jal Yojana, plan to provide piped natural gas in 400 cities - all present great opportunity for the steel sector. He appealed to industry to reimagine strategy, contribute towards vision of USD 5 Trillion economy. India is blessed with raw material availability, demographic dividend, vast coastline and a large market. He said that We have all ingredients to benchmark with the best in the world and go beyond.

Mr Pradhan said the industry must focus on producing high quality, low cost products. He mentioned that the steel industry must touch the lives of common citizens. Galvanised steel can play an important role by being cost effective. India is blessed with raw material availability, demographic dividend, vast coastline and a large market. He underscored the need to have the potential to benchmark our Steel industry with the best in the world. We must link our aspiration to the world market. The Prime Minister Mr Narendra Modi's vision of USD 5 Trillion economy is not mere slogan, he added that mentioned the need to work together to realise this vision. Industry must reimagine strategy to position itself as a global leader. The Zinc industry is poised to grow, ensuring longevity of steel by reducing corrosion, and thereby adding to the GDP of the country., he added.

The Minister of state for Steel Mr Faggan Singh Kulaste said that galvanization of steel with the help of Zinc makes it corrosion resistant, at less cost compared to the stainless steel. The more it is used, better it would be for the country. He said that industry should contribute positively in development of people and places, which have benefited less from the economic growth. The steel industry must touch the lives of common citizens.


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