“We have been waiting for the transport department to come out with its policy on the end-of-life of commercial vehicles. The steel scrap policy will be based on this . Once this policy is in place, India will start producing steel from scrap. For a steel producer, it doesn’t make a difference whether you make steel from iron ore or scrap. The National Steel Policy’s target of 300 million tonnes (mt) of steel production by 2030-31 includes steel made from both iron ore and scrap.” Ms Sharma said .
“With India targeting a 300 million tonnes a year steel production capacity by 2030-31, the focus of steel ministry is on domestic consumption and making the sector globally competitive.. Ministry of steel has identified construction and manufacturing sectors like rural development, urban infrastructure, roads and highways, and railways for maximum consumption of steel.” Said Chauhary Birender Singh, Union Minister of steel in his video message to the conference .
The Minister said since India was one of the fastest growing economies in the world, extensive use of steel in areas like construction, infrastructure, power, aerospace, industrial machinery, and consumer products, is of strategic importance to the country.
The others who spoke during the inauguration ceremony included Mr P K Singh, Chairman , Steel Authority of India Ltd, Mr P Madhusudan, CMD, RINL, Mr Peeyush Gupta , VP steel marketing and sales , TATA steel, Mr Vinay Shroff EVP, Sales and Marketing , JSW Steel and MR Yatinder Pal Singh Suri, MD , Outokumpu India.