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India should increase steel exports to 6-7pc: Minister

Press Trust of India  |  Kolkata 

should export six to seven per cent of its total production from the existing 1.5 per cent, Union Chaudhary said today.

"There is no reason to be happy with 1.5 per cent of export. In the next few years, Indian should increase to 6-7 per cent of total production," Singh said at an interactive session with members of Chamber of Commerce here.

The was speaking on the improving fortunes of steel makers, following protective measures by the like the minimum import price and anti-dumping duty.

Singh said with these steps, has become a net exporter of steel, and had come down by 40-45 per cent.

was lagging behind in research and innovation technology with regard to steel production, he said, adding, a Cabinet note will be moved next week for the proposed Steel Research and Technology Mission of India (SRTMI).

The is planning to merge all its research bodies under the SRTMI. The has said the initial corpus for setting up of this umbrella institute is Rs 200 crore.

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

First Published: Thu, January 11 2018. 16:20 IST