Tomar assures reforms to increase steel production

Steel Minister Narendra Singh Tomar today assured the industry of bringing in reforms to boost production of the alloy.
"To increase the production of steel, we need to increase mining. Our country has the capacity to produce 101 million tonne (mt) of steel, but we are producing only 81 mt. Similarly in stainless steel sector, we are producing only 3.3 mt against our capacity of 5.3 mt," Tomar said.
He was speaking at the global stainless steel expo 'Indinox-2015', being organised by Indian Stainless Steel Development Organisation (ISDO).
The event was inaugurated by Tomar and Gujarat chief minister Anandi Patel at Mahatma Mandir in Gandhinagar.

In his speech, Tomar told the gathering comprising leading industrialists that steel sector is under-performing in the country.
"To increase the production, we need to change several laws and rules. We also need to bring reforms in our policy. I assure the industry that we will take appropriate steps in this direction soon," said Tomar.

In her speech, Patel asked the stainless steel manufacturers to come up with the high quality value-added products which can help them in increasing production.
She also invited the stainless steel industry to take up the beautification project of Sabarmatri Riverfront using stainless steel while assuring that state government will provide all the support for the project.

Echoing Tomar, Patel rued that despite being capable, the steel industry has not realised its full potential, saying that policies of the erstwhile UPA government at Centre are responsible for the present condition of steel industry.
Others who were present on the occasion included stainless steel industry expert Markas Maul and Asia Pacific head of Outokumpu, Austin Lu besides leaders from the industry.
Outokumpu is the world's largest stainless steel company headquartered in Espoo, Finland, producing stainless steel and high performance alloys. It had which invented stainless steel 100 years ago.
On the occasion, Lu urged the Gujarat government to consider using stainless steel in building 182 meter tall 'Statue of Unity', a tribute to the iron man of India Sardar Vallabhbhai Patel.

"Presently, it been designed to last for about 100 years. While such projects in other parts of the world are being designed to withstand the ravages of 1000 years. It is the stainless steel which can provide the lasting solution," said Lu.