New Delhi: The Indian Steel Association (ISA) supported by the Ministry of Steel, Government of India is organising the ISA-Steel Conclave 2019 on 21 and 22 November at Hotel The LaLiT, New Delhi, to deliberate on Indian and global perspectives of the steel industry. Union Minister for Steel Dharmendra Pradhan will be the Chief Guest at the Steel Conclave, which is in its second edition. Minister of State for Steel Faggan Singh Kulaste will also be present on the occasion. The Conclave will feature discussions on innovations & technology, the role of steel in construction & design, steel exports, capital goods, environmental management and other issues, and will be attended by senior industry leaders, Government officials, and Consultants,
In a Message to ISA, Pradhan said, “As we approach the end of 2019, it is appropriate to look back at the year and the major milestones for the steel industry. We began the year with the landmark achievement of becoming the world’s second largest steel producer.”
Pradhan said that a substantial reduction in Corporate Tax and the tax on new manufacturing setups has been well received and appreciated by major steel companies and other corporate houses. The Steel Minister expressed hope that domestic and foreign steel companies will utilize this opportunity to make new investments and add to the steel production capacity in India.
Speaking at Chromium 2019 earlier in the month, Pradhan had said the Indian steel sector is becoming more vibrant, efficient, environment-friendly and globally competitive, supported by various Government policies, and that the industry is set for a quantum jump.
Early last year, the United States Energy Information Administration (EIA) found that India is the third-largest steel producer in the world after China and Japan, having surpassed other countries such as the United States, Russia and South Korea. The EIA said that India’s steel industry is dominated by electric-based processes.
A report on the status of the Indian steel industry will be released at the event. ISA Steel Awards will also be presented under the categories:
- Excellence in Steel Journalism;
- Outstanding Researcher (Steel) in an Academic Institute/ R&D Labs;
- Excellence in Innovation by Downstream Steel Industry; and,
- Excellence in Domestic Sales by Downstream Steel Industry.
India was the world’s 2nd largest producer of crude steel (106 MT), and the largest producer of Direct Reduced Iron (DRI) or Sponge Iron (30.36 MT) in 2018. The country was also the 3rd largest consumer of finished steel in 2018 (96 MT) in the world.
According to the Govt release, India is the 2nd largest coal producer and importer, after China, and the 4th largest iron ore producer in the world. The steel sector contributes around 2% of the country’s GDP and employs around 2.5 million people in steel and allied sectors. The National Steel Policy-2017 envisages the creation of 300 MT of steel capacity in the country by 2030-31, a significant upgrade from the existing capacity of 138 MT.
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