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India To Soon Become Second Largest Steel Producer

Capital Market 

of Steel, Chaudhary Birender Singh, has urged international investors and to invest in the minerals and metals sector in Speaking at the International Conference, on Minerals and Metals - Outlook 2030, being held in New Delhi, he said India's sector offers tremendous potential and presents a vast opportunity for investors to mine unexplored regions. is well endowed with minerals and produces 95 minerals, including fuel, atomic, metallic & non-metallic and minor minerals.

Secretary, Ministry of Steel, Government of India, Binoy Kumar, who presided over the inaugural function, said that is the second largest of ore and (NMDC) is the largest ore in the country. He further said India is the third largest producing country and will soon be in the second position. He said the per capita consumption of has risen to 69 kgs in the current year but it is still far behind the international consumption standard. Hence the industry has huge potential in the future. He said the Policy 2017 has set a target of producing 300 Million Tonnes of Steel by 2030 therefore the sector has to actively take steps to reach its target before 2030.

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

First Published: Tue, October 09 2018. 16:00 IST