Strategy needed for 300 mt steel output target by 2030: Minister

Union Steel Minister Ram Chandra Prasad Singh on Sunday said India needs to devise a strategy to reach the production target of 300 million tonnes (mt) steel by 2030 and 500 mt by 2047. 

The production was 120 mt in 2021-22. There is also a need for suitable policy support to increase the production of iron ore production and other raw materials. 

Apart from that, there is an urgent need to move towards green steel, in line with the government’s focus on Hydrogen, he said. 

As a result, the iron and steel industry will be a big beneficiary as coal can be replaced by hydrogen and the industry’s dependence on import of coal also will go down.