Economy

India needs to boost per capita steel consumption: Pradhan

Our Bureau New Delhi | Updated on June 30, 2020 Published on June 30, 2020

Dharmendra Pradhan, Petroleum Minister R_V_Moorthy

India has adequate steel production capability but still lags in consumption, according to Steel Minister Dharmendra Pradhan.

“We have significantly increased our steel production capacity. However, there is immense potential upside in terms of enhancing our per-capita steel consumption, which is currently about one-third of the global average,” Pradhan said while addressing a webinar titled ‘Ispati Irada: Enhancing steel usage in the country’.

“Lower steel usage means more burden on the country and questions on the longevity of constructed structures,” he added.

Pradhan further said different arms of the government are working to boost domestic steel production. “We are trying to resolve bottlenecks. We have also requested the Finance Ministry to enable a conducive tax regime for the steel sector.”

He also urged the steel industry to look for avenues to boost domestic consumption of steel.

“We have to drive the country's economic growth, enhance livelihood, protect our environment, and improve the lives of our poor. Enhancing steel usage can have a positive bearing on all of these,” he added.

Published on June 30, 2020
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