Financial Daily from THE HINDU group of publications
Thursday, Oct 16, 2003
Financial Daily from THE HINDU group of publications Thursday, Oct 16, 2003 |
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Industry & Economy
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Metals BCCI drive to project metals industry role in revival of East Our Bureau
Kolkata , Oct. 15 THE Bengal Chamber of Commerce & Industry (BCCI) has sought to project the role of the metals industry in the resurgence of the East. Towards this end, the chamber is organising a one-day seminar on `The role of the metals industry in the resurgence of the East' on November 5. Stating this here on Wednesday, the Vice-President of BCCI, Mr Biswadip Gupta, laid stress on the importance of the metals industry and said the seminar would showcase the potential of the eastern region in this regard. With the availability of coal, iron ore, bauxite and other minerals, the region had an advantage in terms of logistics. As such, it was expected that the region would witness the setting up of several Greenfield projects in the manufacturing sector, he said. Already, the demand for steel was on the rise and the prices were fairly remunerative. With global demand pushing prices, flat products were being sold at $340 per tonne. The focus on infrastructure development across the country was pushing the demand for long products as well. China, too, would continue to be a major driver of global steel demand. Mr Gupta said that BCCI was of the opinion that the manufacturing sector rather than services should have more weightage in the country's GDP. However, for the manufacturing sector to prosper, it would be imperative to put in place better infrastructure in terms of roads and ports for efficient material handling. Several well-known people representing the ferrous and non-ferrous metals industry are expected to participate in the seminar. They include Dr J.J. Irani, Director of Tata Sons, Mr V.S. Jain, Chairman of SAIL, Dr S.K. Tamotia, President & CEO of Indian Aluminium, Mr B. Muthuraman, Managing Director of Tata Steel, and Mr B.K. Panda, Chairman-cum-Managing Director of Rashtriya Ispat Nigam Ltd.
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