India's steel industry now second biggest: PM Modi

New Delhi, October 28

Prime Minister Narendra Modi on Friday said the Indian steel industry had become the second largest producer of steel in the world over the past eight years.

Strengthening infra

When the steel sector is strong in a country, it strengthens the infrastructure and helps in construction and automotive sectors. — Narendra Modi, Prime minister

“Due to everyone’s efforts in the past eight years, the Indian steel industry has become the second largest steel producer in the world. There is immense potential for development in this industry,” the PM said in his virtual address as the chief guest at the “bhoomi pujan” of expansion of ArcelorMittal Nippon Steel India’s Hazira plant in Gujarat’s Surat.

The Prime Minister said the plant which entailed over Rs 60,000-crore investment would create many employment opportunities for the youth of Gujarat and the country.

“After this expansion, the crude steel production capacity at Hazira Steel Plant will increase from 9 million tonne to 15 million tonne”, the Prime Minister said.

Underlining the growing role of the steel industry in the goals of moving towards a developed India by 2047, the Prime Minister said a strong steel sector leads to a robust infrastructure sector.

The Prime Minister noted that with the expansion, a new technology was coming to India which would aid electric vehicles, automobiles and other manufacturing sectors.

“I am sure this project of ArcelorMittal Nippon Steel India will prove to be a milestone in the vision of Make in India,” the PM said.

Referring to the world’s expectations from India, the Prime Minister said India was rapidly moving towards becoming the world’s largest manufacturing hub. “We currently produce 154 MT of crude steel. Our target is to achieve 300 MT production capacity in the next 9-10 years,” the PM said.