Mumbai, NFAPost: Prime Minister Narendra Modi exhorted that the Indian steel industry’s goal should be zero import and focuss on net export. Inaugurating virtually the 6th edition of India Steel 2025 at the Bombay Exhibition Centre in Mumbai, Prime Minister said India has set a goal of 300 MT steel capacity by 2030.
“The Indian steel industry’s goal should be zero import and net export. Our capacity needs to be enhanced to 500 million tonne by 2047. To achieve this target, the Indian steel industry should be future ready. Also, I request both private and public sectors to nurture and develop new ideas for R&D, manufacturing of steel,” said Prime Minister Narendra Modi.
He remarked that this sector forms the foundation of India’s progress, strengthens the base of a developed India, and is scripting a new chapter of transformation in the country. The Prime Minister welcomed everyone to India Steel 2025, the biennial international steel industry exhibition and conference. He expressed confidence that the event will serve as a launchpad for sharing new ideas, forging new partnerships, and promoting innovation. He emphasized that this event will lay the groundwork for a new chapter in the steel sector.
Prime Minister also pointed out that the government projects are only using made-in-India steel, which will fuel the growth of the industry.
“PM Gati Shakti is helping the steel industry connect different areas of India and PM Awas Yojana is helping make homes across India. $1.3 trillion National Infrastructure Pipeline is also advanced. In these two schemes we are using only made-in-India steel,” said Prime Minister Narendra Modi.
He also pointed out that the Indian steel industry is on the cusp of techtonic shift as the sector is the foundation of India’s Vikasit Bharat vision. Prime Minister also highlighted that India’s race to achieve $5 trillion economy target is supported by the steel industry.
Underscoring that steel is a primary component driving the growth of multiple sectors, Narendra Modi remarked that government policies for the steel industry are playing a crucial role in making many other industries in India globally competitive. He highlighted that sectors such as manufacturing, construction, machinery, and automotive are gaining strength from the Indian steel industry. He mentioned that the government has introduced the National Manufacturing Mission in this year’s Budget to accelerate the ‘Make in India’ initiative. The mission caters to small, medium, and large industries and will open new opportunities for the steel sector, he added.
Noting that India was long dependent on imports for high-grade steel, which was critical for defense and strategic sectors, the Prime Minister expressed pride in the fact that the steel used in India’s first indigenous aircraft carrier was produced domestically. He also noted that Indian steel contributed to the success of the historic Chandrayaan mission, symbolizing India’s capability and confidence. The Prime Minister remarked that this transformation was made possible through initiatives such as the PLI scheme, which has allocated thousands of crores to support the production of high-grade steel.
He mentioned that in this year’s Budget, shipbuilding has been classified as infrastructure, adding “India aims to manufacture modern and large ships domestically and export them to other countries”. The Prime Minister highlighted the rising demand for pipeline-grade steel and corrosion-resistant alloys in India. He remarked that the country’s rail infrastructure is expanding at an unprecedented pace.
“India is currently working towards a target of exporting 25 million tons of steel and aims to increase production capacity to 500 million tons by 2047”, he noted emphasizing the importance of preparing the steel sector for new processes, grades, and scales, urging the industry to expand and upgrade with a future-ready mindset. The Prime Minister underlined the vast employment generation potential of the steel industry’s growth. He called upon both the private and public sectors to develop, nurture, and share new ideas. He emphasized collaboration in manufacturing, R&D, and technology upgrades to create more job opportunities for the country’s youth.
Union Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma, Hon’ble Chief Minister of Maharashtra Shri Devendra Phadnavis and Hon’ble Chief Minister of Chattisgarh Shri Vishu Deo Sai.
The three day conference will see presence of high-level participation from various Central Ministries and States including Chief Ministers and Union Ministers indicating the critical importance of steel as an important clog in the wheel of Atmanirbhar Bharat.
Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma. The event will have key sessions of the conference, reflecting the multi-sectoral relevance of steel in India’s economic and industrial strategy.
Senior officials of the Government of India, including Secretary, Ministry of Electronics and Information Technology (MeitY), Secretary, Ministry of Steel and Secretary, Ministry of Coal will also chair key sessions during the event.
The event will also have a presence of global Industry leaders and senior Foreign dignitaries leading high-level delegations, including the Deputy Minister of Industry and Trade of the Russian Federation, Ambassadors of Australia, Mozambique, and Mongolia, reflecting the deepening international engagement and strategic cooperation in the steel sector. And more than 12,000 business visitors, 250 exhibitors, and 1,200 conference delegates.
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