Prime Minister Narendra Modi addresses the 6th edition of India Steel 2025 programme via video conferencing. India Steel, a premier biennial international exhibition-cum conference on the steel sector, is being held at the Bombay Exhibition Centre in Mumbai.
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The Government is mapping mines and steel units across the country to provide improved infrastructure facility in a bid to bring down the operational cost and compete in the global arena.
Addressing the ‘India Steel 2025’ conclave through recorded video message, Prime Minister Narendra Modi emphasised that mine areas and steel units are being mapped for improved multi-modal connectivity and new projects are being introduced to upgrade critical infrastructure in eastern India, where most of the steel sector is concentrated.
He highlighted the government’s decision to use only ‘Made in India’ steel in government projects and noted that government-driven initiatives account for the highest consumption of steel in building construction and infrastructure.
Urging the steel companies to focus on manufacturing high-grade steel, Modi stressed on the need for a goal of “zero imports” and a focus on net exports.
“India is currently working towards a target of exporting 25 million tonne of steel and increase production capacity to 500 million tonne by 2047,” he said.
Steel sector should upgrade and expand with a future-ready mindset and adopt new processes, grades and scale, he added.
“The future of the steel industry will be shaped by AI, automation, recycling, and by-product utilization,” he said stressing on the need to focus on innovation.
Collaboration between global partners and Indian companies will help in bringing down dependence on imports for high-grade steel at a faster pace, he said.
Significant impact
The Prime Minister remarked on the significant impact of coal imports, particularly coking coal, on both costs and the economy and urged the industry to look at alternatives.
The availability of technologies such as the DRI route and coal gasification can be effectively used to decrease reliance on imports, he said.
Underlining the importance of addressing the issue of unused greenfield mines, Modi noted that significant mining reforms have been introduced in the last decade, making iron ore availability easier. He stressed that it is now time to utilize the allotted mines effectively to ensure optimal use of the country’s resources.
Cautioning that delays in this process would adversely impact the industry, he urged for the acceleration of greenfield mining efforts to overcome this challenge.
Published on April 24, 2025
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