Prime Minister Narendra Modi on Thursday asked the steel industry to come together to build a resilient, revolutionary and steel-strong India.
While speaking at the India Steel 2025 programme at Mumbai, PM Modi 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.
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“Steel has played a pivotal role in modern economies, akin to a skeleton”, emphasised PM Modi, remarking that whether it is skyscrapers, shipping, highways, high-speed rail, smart cities, or industrial corridors, steel is the strength behind every success story.
“India is striving to achieve the goal of becoming a $5 trillion economy, with the steel sector playing a significant role in this mission”, he added, expressing pride in India being the world’s second-largest steel producer.
Terming steel as a “sunrise sector”, Modi underlined the need to up production of the commodity which is the “backbone” of development, adopt newer processes, undertake innovation, exchange best practices within and also look at import substitutions in coal.
Underlining that the steel industry is brimming with renewed confidence about its future due to the foundation of the PM-Gati Shakti National Master Plan, PM Modi remarked that this initiative integrates various utility services and logistics modes.
He emphasized that mine areas and steel units are being mapped for improved multi-modal connectivity. He noted that new projects are being introduced to upgrade critical infrastructure in eastern India, where most of the steel sector is concentrated. He further highlighted that the $1.3 trillion National Infrastructure Pipeline is being advanced.
Stating that the goal should be “zero imports and net exports” when it comes to steel, PM Modi pointed that the country aims to increase the exports to 500 MT by 2047, from the present 25 MT of steel.
He urged both the private and public sector to undertake newer initiatives in manufacturing, technology upgrades and in research and development, and share the best ones among themselves.
“We need to move faster towards energy efficiency, low emission and digitally advanced technologies,” Modi said, adding that artificial intelligence, automation, recycling and byproduct utilisation will define the future of the steel industry.
