Goyal, Pradhan discuss challenges faced by steel industry

Union Minister of Commerce and Industry and Railways, Piyush Goyal, and Union Minister of Steel, Dharmendra Pradhan, discussed the challenges being faced by the steel sector and the import-export trends with steel producers here on Tuesday.

Both the Ministers assured the steel industry that Ministries of Commerce and Industry and Steel will make all efforts to ensure that engineering goods exports double in the next five years and reach USD 200 billion by 2030, an official statement said.

The meeting was attended by senior officials and representatives from the industry.

Although India is the second largest manufacturer of steel, it is also a net importer of steel.

Representatives of the steel industry and the Engineering Export Councils discussed in detail with Commerce and Steel Ministers the "protectionist measures" being imposed by other countries and the under-utilised capacity in steel manufacturing in India.

Piyush Goyal and Dharmendra Pradhan discussed at length the measures their ministries may take to reduce unnecessary imports and boost exports.