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BENGALURU : Steel demand is expected to increase to meet the needs of state-run flagship programs like Make in India, housing projects Union Steel Minister Chaudhary Birender Singh, said Friday that "the demand for high value-added and sophisticated steel is expected to grow to meet the needs of state initiatives such as Make in India, Pradhan Mantri Yojana Awas, Pradhan Mantri Gramin Vikas Yojana and the sector of defense, "he told reporters after the meeting of the National Steel Consumers' Council.
With steel consumption per capita in India of about 68 kg, it accounts for less than a third The minister noted that the average consumption is around 208 kg.
"The issues of demand, supply, product innovations and logistics require serious deliberation. Steel contributes about 2% of the country's gross domestic product (GDP).
"The state has identified infrastructure as a priority sector, which is sure to strengthen GDP growth rate." Considering the benefits of steel-based structures like the cycle of Lower life and high design flexibility, steel is an important material in infrastructure development, "adds Singh. Urban transformation and modernization of the defense sector should use domestic steel, the minister said.
"These initiatives will provide an additional effort to increase domestic demand for steel in the short and medium term," he added. It is however necessary that the industry and steel consumers work together to promote the use of steel in mountainous regions, railways and the development of special grades to energetic and medical purposes, said Mr. Singh
. meeting, a mobile application of the MSTC Ltd, an e-commerce company of the Ministry of Steel, was launched in order to bring buyers and sellers together.
Minister of State or Steel Vishnu Deo Sai was also present on the occasion.
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