India must increase per capita steel consumption

According to Steel Minister Dharmendra Pradhan, India has sufficient capacity to produce steel, but it still lags behind in consumption.

“We have significantly increased our production capacity. However, there is huge growth potential in terms of increasing steel consumption per capita, which is currently about a third of the global average, ”Pradhan said in a webinar entitled“ Ispati Irada: Expanding Steel Use in the Country ”.

“The lower use of steel means a greater burden on the country and issues with the durability of the structures being built,” he added.

Pradhan went on to say that various government bodies are working to increase domestic steel production. “We are trying to eliminate bottlenecks. We also asked the Ministry of Finance to ensure a favorable tax regime for the metallurgical sector. "

He also called on the steel industry to look for ways to increase domestic steel consumption.

“We must stimulate the country's economic growth, raise living standards, protect the environment and improve the lives of our poor. Increased use of steel could have a positive impact on all of this, ”he added.