There Is Immense Economic And Social Implications Of Enhanced Steel Usage Across Railways And Defence Sectors: Dharmendra Pradhan

Union Minister for Steel and Petroleum & Natural Gas, Dharmendra Pradhan said that apart from having strategic implication, there is immense economic and social implications of enhanced steel usage across Railways and defence sectors. He said this will also help in creation of jobs. Emphasising the Ministry of Steel's role as a bridge between the steel industry, Railways and Defence sectors, he called for a strategic paper highlighting the specific long term requirement of these sectors to form an action plan with the steel industry for domestic fulfilment of the requirement.

Speaking about reducing imports, he emphasized on zero imports in railways and defence sector and further encouraged the domestic industry to produce special steel as per the industry requirements to support indigenisation. The Minister stressed upon the need to develop an ecosystem for start-ups that will support production of special steel and urged the investors and industry to come together in nation's interest.

The Minister mentioned that Japan and Korea which earlier used to import raw materials and then produce value added steel to export, are experiencing rising cost of production. Hence, it is opportune time for the Indian industry and the Ministry to create an action plan for production of value added steel for fulfilment of domestic demand and international demand going forward, he added.

He also stressed the importance of Steel Import Monitoring System (SIMS) in identifying imports for end use sector and reiterated that this data will enable the domestic steel industry in creating an action plan to manufacture specific steel domestically. He said, Our Government has launched a mission named 'Har Kaam Desh Ke Naam'. Every work we undertake must be towards building a stronger and more prosperous New India. Shri Pradhan also released the Safety Guidelines for Iron & Steel Sectors on the occasion to ensure a zero-accident workspace for the steel sector.

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