India exported record quantity of finished steel in 2021-22: Minister

at 6:44 pm
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New Delhi: India exported a record 13.5 million tonnes of finished steel in the year 2021-22, Minister for Steel Faggan Singh Kulaste said here today.

There was a record production of over 120 million tonnes of crude steel and 113.6 million tonnes of finished steel, he added.

At the same time, he said the logistics cost is a big challenge for industries and the government has taken many important steps to reduce it.

The steps include setting up of National Infrastructure Pipeline (NIP) and Dedicated Freight Corridor and implementation of Sagarmala Project and PM Gati Shakti Master Plan for the development of the mining sector, the Minister said at conference on Indian Metal Industry here.

“The completion of these projects will save time in freight transportation, as well as reduce logistics cost,” he added.

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Kulaste said the focus of the government is to lay major emphasis on the development of infrastructure across the country to achieve the vision of Aatmanirbhar Bharat.

India’s metal sector growth is consolidating due to continuous growth in the automotive and infrastructure sectors, resulting in higher demand for power, steel, cement in the country.

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The vast availability of minerals in the country is providing huge opportunities for development in the mining and metal sector which can play a major role in the country’s ambitious plans of a self-reliant India and a US$ 5 trillion economy by 2024-25.