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India to double steel production in eight years to 240 MT: Scindia

Stating that steel plays a major role in the country's economy, newly-appointed Union Steel Minister Jyotiraditya Scindia on Friday said India's production will double to 240 MTs in coming years.

Jyotiraditya Scindia | Steel growth | Steel Industry

Press Trust of India  |  Gwalior 

MAY 27, 2022** New Delhi: Union Civil Aviation Minister Jyotiraditya Scindia speaks during inauguration of Bharat Drone Mahotsav 2022, India's biggest drone festival, at Delhi's Pragati Maidan. (PTI Photo)(
Jyotiraditya Scindia

Stating that steel plays a major role in the country's economy, newly-appointed Union Steel Minister on Friday said India's steel production will double from the current 120 million tonnes to 240 million tonnes in the next eight years.

"In any country's economic development, steel makes an important contribution. Today India is the second largest producer of steel in the world with 120 MT production. I am confident that the target that we have set to double it to 240 MT in next eight years will be done," Scindia told reporters here, 24 hours after taking additional charge as the steel minister.

"I have taken charge of the steel ministry yesterday only and I am not the one who starts lecturing without understanding the sector. I will take some time to understand the ministry and the sector," Scindia added, while expressing gratitude towards Prime Minister Narendra Modi and other leaders for reposing faith in him.

The middle and small scale industries also play a major role in the steel sector, accounting for nearly 50-52 per cent production through their nearly 3,000 units, he said.

"I will ensure that the production of steel in the country will enhance by taking medium and small industries along with the large units," he said.

Scindia said steel plays a major role in industries like construction and automobiles.

When asked about his plans for the sector, Scindia said he will not comment until he discusses the matter with subject experts to understand the industry.

"I don't believe in making comments but on solid work. So far, only 24 hours are over of my taking over the charge and I am not aware of everything. Give me some time, as you have given me when I became the civil aviation minister," he said.

Scindia, who completed one year as civil aviation minister on Friday, highlighted his work in providing flight connectivity and investment in new airports.

He further said the Prime Minister will next week inaugurate a new airport at Deoghar in Jharkhand. A new flight from Kolkata to Deoghar will also be launched.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, July 08 2022. 23:29 IST