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"India to overtake Japan in steel production in 2 years"

Press Trust of India  |  Jamshedpur 

would overtake the world's second largest steel producer in the next couple of years and the country has targeted to produce 300 million ton of steel by 2025-30, a senior official said here today.

is currently producing 90 to 95 million ton of steel per annum against the world no.2 steel producer Japan, which produces around 103 million ton, said Dr T Venugopalan, Technical Advisor to Managing Director.

"is all set to overtake in next couple of years... The country has (also) targeted to produce 300 million tons of steel by 2025-30," he said.

Venugopalan was addressing participants at the Grand Finale of 'Mind Over Matter', an annual innovation challenge programme of the private steel major.

Stating that the steel sector has started improving, he said the sector contribute to one to 1.5 per cent in the country's

Venugopalan, however, said good quality coal was drying out in the country and some process was needed to improve low quality coal.

On iron-ore deposits in the country, he said it would last for 30 to 35 years, if it is used in the country.

Earlier, announced the season-4 winners of 'Mind over Matter'. The six-month-long programme culminated in the grand finale held today, where five teams presented their innovative ideas before the jury.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 22:57 IST