Pradhan asks employees to contribute in making India USD 5 trn economy

Steel Minister Dharmendra Pradhan has urged the employees of his ministry and steel PSUs to contribute to efforts for making India a USD 5 trillion economy.

In a letter to the workers, Pradhan has highlighted the importance of the steel sector in the economy and its major role in the growth story.

"We are working on a mission mode to build India into a USD 5 trillion economy as envisioned by Prime Minister Narendra Modi. You all have to play a key role in this journey," Pradhan said in the letter.

The prime minister has said that the country should target becoming a USD 5 trillion economy by 2024. Modi last month interacted with select economists and experts on the economic policy with a view to brainstorming ideas that could help create jobs, boost growth rate and more than double the size of Indian economy to USD 5 trillion by 2024.

Stressing upon the importance of the steel industry, Pradhan said it is the backbone of the economy impacting almost every sector of the country including infrastructure, construction, automobile, petroleum, power coal, and manufacturing.

Indian steel industry has immense potential to impact the global market and influence the national growth, he said.

"Your role will be equally vital to take Indian steel sector to newer heights playing major role in Indian growth story," Pradhan said in the letter.

Pradhan also assured the employees that the domestic steel industry is on a solid trajectory and he is confident that the targets envisioned in the National Steel Policy 2017 will take Indian Steel Industry to newer pinnacles.

India has set an ambitious target of ramping up its steel making capacity to 300 million tonnes by 2030-31.

The minister has also sought ideas and suggestions of the employees.