CII organizes “Steeling India-2019”

On December 16, 2019, the Confederation of Indian Industry organized “Steeling India 2019” conference, a drive to increase metal intensity in key sectors. Union Minister for Steel, Petroleum and Natural Gas Shri Dharmendra Pradhan participated in the conference.

Highlights

The session focused on key industries namely automobile, infrastructure, railway, water, irrigation and housing. It discussed the strategies to promote steel intensive structures and to augment steel consumption. Steel producers, consumers and policy advisors attended the conference. The conference developed a road map to increase steel intensity in key sectors. It also brought in strategies to mitigate supply chain issues in the steel sector.

Significance

CII organized the conference with the objective of augmenting steel production. The conference will help India pave ways to achieve its target of 300 MT of production by 2030 (according to National Steel Policy). The World Steel Association predicts steel demand in India to reach 103 MT (Million Tonnes) in 2019.

Experts believe that in coming days, rural market is to play a crucial role in steel sector. This is mainly because demand for fast-moving consumer goods like two-wheelers, mobile phones, etc. in rural markets are increasing at faster rate.

Month: Current Affairs - December, 2019