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The domestic demand for steel will get support from infrastructure that will be developed to achieve the $5-trillion economy target, according to Minister for Steel, Dharmendra Pradhan.
Pradhan said the various policy reforms and Government initiatives like Pradhan Mantri Awas Yojana, Har Ghar Jal Yojana, construction in railways and roads, creation of a gas-based economy and creation of new agri-storage facilities are set to drive steel demand.
He said these projects will help achieve Prime Minister Narendra Modi’s vision of a $5-trillion economy.
Speaking at a workshop on ‘Enabling procedures for increase of steel usage for the growth of economy’ here, Pradhan invited the Japanese industry to invest in India and enter into technology transfer partnerships in order to tap the opportunities arising out of growing steel demand and create employment opportunities.
Pradhan said in the next 20 years, India is set to be the largest energy market in the world.
He said $60 billion is being invested in creating energy infrastructure in the country.
An addition of about 16,000 km of gas pipelines will further give a boost to steel demand, an official statement said.
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