New Delhi (NVI): Rural India will drive the steel demand growth in India, Union Minister of Steel Dharmendra Pradhan has said here today.
Addressing ‘Steeling India-2019: Driving metal intensity in key sectors’ event, organised by Confederation of Indian industry (CII), Pradhan said, “Rural India will play a major role in driving steel demand growth.”
The government schemes like the ‘Har Ghar Jal Yojana’and ‘Pradhan Mantri Awas Yojana’ will drive the consumption of steel in rural areas, he added.
Talking about the steel usage in the country Union Minister noted that India’s steel per capita consumption is currently much lower than the global average but is set to grow.
Describing India as a rapidly growing market, Pradhan said, “Our people have high aspirations and rising purchasing capacity. This offers an unprecedented opportunity for the domestic industry to expand and grow.”
“India will soon become a net steel exporter. Prudent policy reforms by the government and the entrepreneurial spirit of the industry will drive the growth,” he added.
The minister had also informed that government is working on facilitating greater cost efficiency, logistical efficiency in the steel sector and called upon the domestic steel industry to leverage innovation and new technologies to identify sustainable and cost effective options for steel manufacturing.
